UKAR appointed by the Government to administer the Help to Buy: mortgage guarantee scheme
27 Jun 2013
UK Asset Resolution (UKAR) today confirms that it has been appointed by the Government to administer the new Help to Buy: mortgage guarantee scheme. Under the terms of agreement, UKAR will be responsible for the day to day administration of the scheme on behalf of HM Treasury. The Chancellor will retain overall responsibility for the Help to Buy scheme.
Richard Banks, Chief Executive Officer of UKAR, commented, “I am pleased that the Government has appointed UKAR to administer the new Help to Buy: mortgage guarantee scheme. We look forward to working with HM Treasury as details of the scheme are finalised over the coming months.”
NOTES TO EDITORS
UK Asset Resolution Limited (UKAR)
UKAR was established on 1 October 2010 to facilitate the orderly management of the closed mortgage books of both Bradford & Bingley (B&B) and Northern Rock Asset Management (NRAM) to maximise value for taxpayers. The Executive team of UKAR manages both organisations focusing on this common objective, while ensuring that both companies continue to treat customers fairly, deliver consistently high levels of service and support those customers facing financial difficulty.
The administration of the Help to Buy: mortgage guarantee scheme by UKAR will have no impact on the financial position of B&B and NRAM.
^ Top of Page
UK Asset Resolution confirms mortgage servicing transferred to Computershare
06 Jun 2016
UKAR today confirms its mortgage servicing operations have been transferred to Computershare.
UKAR Annual Report & Accounts 2016
24 May 2016
UK Asset Resolution Limited ('UKAR') today issues its results for the year ended 31 March 2016 (‘2015/16'). UKAR included Bradford & Bingley plc ('B&B') and NRAM plc (‘NRAM’) throughout 2015/16. UKAR's mission is to maximise value for the taxpayer, whilst serving our customers well and treating all our stakeholders fairly.
UK Asset Resolution announces the transfer of its mortgage servicing operations to Computershare
04 May 2016
UKAR announces today that it has signed a contract to transfer the mortgage servicing operations to Computershare.
03 May 2016
As announced on 13 November 2015 UK Asset Resolution limited (UKAR) agreed to sell a £13bn asset portfolio from the legacy book of NRAM (including £12bn of loans within the Granite securitisation vehicle, plus a further £1bn of non-Granite assets) to affiliates of Cerberus Capital Management LP (Cerberus).
23 Mar 2016
The Boards of UK Asset Resolution Ltd and Bradford & Bingley plc are pleased to announce the appointment of Brendan McDonagh as a Non-Executive Director with effect from 4 April 2016.
UK Asset Resolution announces Computershare Limited as preferred bidder for mortgage servicing
01 Feb 2016
As previously announced UK Asset Resolution Limited (UKAR) has been exploring potential options for the divestment of its mortgage servicing activities in order to ensure continuity of service and long term stability for customers. Following a competitive process we are pleased to announce that we have entered into a period of exclusivity with Computershare.