UKAR at a glance
- UKAR is the holding company established on 1 October 2010 to bring together the businesses of B&B and NRAM.
- The core objective of UKAR is to maximise value for taxpayers through the prudent management of NRAM’s and B&B’s closed mortgage books, while treating all stakeholders fairly.
- On 8 October 2013 UKAR Corporate Services Limited (UKARcs), a subsidiary business of UKAR, became responsible for the administration of the Government's Help to Buy Mortgage Guarantee Scheme on behalf of HM Treasury.
- UKAR is owned by the Government which exercises control through UK Financial Investments (UKFI).
- Although managed under a single board and management structure, NRAM and B&B remain separate legal entities and continue to operate as individual companies with their own individual brands and balance sheets. Operational efficiencies are achieved, amongst other things, through standardisation of processes, integration of systems and processes and knowledge sharing.
- UKAR has head office sites in Crossflatts, West Yorkshire and Doxford, Sunderland
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