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Northern Rock....part deux
Comments
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less than 0.5% of NR mortgages are 3 months in arrears or more. this is half the industry average
True enough - but if they are offering 125% mortgage/loan combos you could afford to make the repayments out of the loan for a couple of years (with no other income necessary).
I wonder if the mortgage book will look quite so rosy in a couple of years time.0 -
From the NRK website:
ASSET QUALITYNorthern Rock is a prime-only lender and credit quality on all its loan books remains strong. 3June).
months plus arrears in the residential book were 0.47% at the end of August (0.47% in June), still
under half the industry average, and 1.21% (1.11% in June) on the standalone unsecured book. 3
months plus arrears on the Together secured book were 0.86% at the end of August (0.90% in
http://companyinfo.northernrock.co.uk/downloads/results/stockEx140907.pdf
So not bad actually.
It should be pretty easy to sell the mortgage book if a takeover can't be engineered IMO. The biggest problem NRK have is the lending that they've done this year that hasn't been securitised yet. Big Bank is still managing to sell off credit, albeit at a much slower rate than earlier in the year.0 -
Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0 -
NR have now decided they won't be paying promised dividend.
Very unsporting of the BoE to complain in my opinion.
Cue share price................anger, denial, acceptance
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Melissa177 wrote: »
Very good.
There's a poster on one of those house price crash sites (can't remember the username and can't be bothered to search) that has been using these type of spoof ads as an avatar for months.
Glad you've caught up. dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0 -
"Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
Looks likely that Brokelays are maneouvering to buy them...........at the right price.
They'll probably buy into them some more around 30 minutes after opening tomorrow.anger, denial, acceptance0 -
Jose Maria Ruiz Mateos has put in a bid apparently!
He was a businessman when Franco ran the show. When the socialists got in they confiscated his company and threw him in jail for tax evasion, fraud and conspiracy.
He's been trying to get his company back ever since. He once assaulted the finance minister (Boyer) while dressed as superman.
This is him in full flow:
http://www.youtube.com/watch?v=xEpcH476Woc
His cry means "Boyer, I'll hit you you horrid man". Leche means milk but also is a mild swearword.0 -
Citibank stuck in a bid at 6p per share yesterday, according to a friend at Deutsche.Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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dolce_vita wrote: »Very good.
There's a poster on one of those house price crash sites (can't remember the username and can't be bothered to search) that has been using these type of spoof ads as an avatar for months.
Glad you've caught up.
Sure, but this one has Ben Bernanke on the front AND A FREE HELICOPTER! Whoo-hoo!Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson0
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