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Northern Rock and B&B clients face payment scrutiny

Some 30,000 Northern Rock Asset Management and Bradford & Bingley mortgage customers are being contacted by the lenders’ holding company, UK Asset Resolution, to warn them they may be at risk of repossession.

UKAR is launching the scheme to identify borrowers who may be falling behind on their mortgage payments and advise them to change their spending habits before interest rates begin to rise.

The firm is also carrying out checks with credit agencies to see when customers are getting into trouble with other debts.

A spokesman for UKAR says: “We are contacting customers in cases where it has come to our attention that there may be an issue with their repayments, for example, if they have made a change to or cancelled their direct debit.

“This indicates there may be a problem so in these cases we are taking a pro-active approach, which gives us a chance to put remedies against repossession in place.”

He says one of the main reasons for implementing the pilot is to try to protect borrowers from interest rate rises.



Ensure it is always business as usual

So the holiday season is drawing to a close. For those of us who stayed in the UK, the realisation that we should have holidayed in April when the UK had its summer and not July and August has hit us, but it’s too late now. But, on a positive note, at least we can […]


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