Concept

Northern Rock

Properties

SES ID
  • 59834
Notation
  • 59834
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Definition
  • Financial institution based in North East of England. Fifth largest UK mortgage lender. Following its collapse in 2008 and adoption into state ownership, it was divided in December 2009 into Northern Rock Asset Management (which carries the majority of debts and is to remain in state ownership) and Northern Rock plc (which carries the majority of the state-backed deposit business) which is to be sold into the private sector.