29 October 2021
On 26 February 2021 UKAR Ltd (“UKAR”) announced the sale of the issued share capital of Bradford & Bingley (“B&B”) and NRAM Ltd (“NRAM”) and their remaining mortgage and loan portfolios to a consortium of Davidson Kempner Capital Management LP (“Davidson Kempner”) and Citibank (“Citi”). As contemplated in that announcement and following the receipt of […]
Read more21 February 2021
UK Asset Resolution Ltd (UKAR) confirms that it has agreed to sell the issued share capital of Bradford & Bingley plc (“B&B”) and NRAM Ltd (“NRAM”) and their remaining mortgage and loan portfolios to a consortium comprising Davidson Kempner Capital Management LP (Davidson Kempner) and Citibank (Citi). The majority of the financing for the transaction […]
Read more11 June 2020
Today, HM Treasury announced that with effect from 14 September, the guarantee arrangements which were put in place for certain liabilities when Bradford & Bingley and NRAM (formerly Northern Rock) came into public ownership will terminate. This follows the repayment of Bradford & Bingley and NRAM’s final third-party liabilities. The full announcement is available on […]
Read more24 March 2020
In its annual results announcement on June 15th 2019, UKAR noted that, having achieved its objective of repaying the Government’s financial investment in B&B and NRAM, the organisation was exploring a sale of the residual asset portfolios and legal entities to take place in 2020. Given the ongoing dislocation in global markets due to COVID-19, […]
Read more23 March 2020
On 27 September 2018, UKAR announced the sale of a portfolio of equity release loans to Rothesay Life plc. The final stage of this transaction is now complete and legal title to the loans included in the sale have been transferred. Rothesay Life have appointed Pure Retirement, an FCA regulated, specialist equity release provider, to […]
Read more11 November 2019
On 2 April 2019, UKAR announced the sale of NRAM residential owner-occupied mortgages and unsecured loans to Citi. The final stage of this transaction is now complete and legal title to the loans included in the sale have been transferred. Citi appointed Topaz Finance Ltd (Topaz), an FCA regulated firm, to hold legal title to […]
Read more15 July 2019
On 26 April 2018, UKAR announced the sale of two separate portfolios of buy to let and owner occupied mortgages to an investor group led by Barclays Bank plc. The final stage of this transaction is now complete and legal title to the loans included in the sale have been transferred. Barclays Bank plc have […]
Read more5 June 2019
UK ASSET RESOLUTION LIMITED ANNUAL RESULTS ANNOUNCEMENT UKAR COMPLETES REPAYMENT OF £48.7BN GOVERNMENT LOANS1 UK Asset Resolution Limited (‘UKAR’) which incorporates Bradford & Bingley plc (‘B&B’) and NRAM Ltd (‘NRAM’) today issues its results for the year ended 31 March 2019 (‘2018/19′). UKAR’s mission is to maximise value for the taxpayer, whilst serving our customers […]
Read more2 April 2019
Following an open and competitive process, NRAM Ltd (NRAM) part of UK Asset Resolution Limited (UKAR), today confirms that it has agreed to sell two separate portfolios of residential owner-occupied mortgages and unsecured loans to Citi for a total of £4.9bn. The majority of financing for the transaction is being provided by PIMCO. Financial completion […]
Read more29 November 2018
UKAR RETURNS A FURTHER £6.3 BILLION TO THE TAXPAYER UK Asset Resolution Limited (‘UKAR’) which incorporates Bradford & Bingley plc (‘B&B’) and NRAM Limited (‘NRAM’) today issues its interim results for the six months ended 30 September 2018 (‘H1 2018/19’). UKAR’s mission is to maximise value for the taxpayer, whilst serving our customers well and […]
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