Monday, February 23, 2009
Northern Rock rises again
Posted by David Smith at 01:00 PM
Category: Thoughts and responses

So now it is official, we have a state-owned mortgage lender seeking to increase its market share rather than run down its mortgage book. That has to make sense; it was always ridiculous for Northern Rock to be draining large amounts out of a funding-constrained mortgage market. The decision to get NR lending again will make quite a difference to net lending. Here's the Treasury's announcement.