UKAR Update

18 Jul 2016

UKAR today confirms the final stage of the sale of a £13bn asset portfolio to affiliates of Cerberus Capital Management LP has taken place.  Legal title of the mortgages and loans included in the sale have been transferred and all customers affected by the transaction are being contacted by the relevant companies to update them on the change of ownership.

We can also confirm that UKAR has today changed the name of NRAM (No. 1) Limited to NRAM Limited. Separately NRAM plc has been renamed Landmark Mortgages Limited.

ENDS

***

NOTES TO EDITORS

UK Asset Resolution Limited (UKAR)

UKAR, the holding company for NRAM Limited (NRAM) and Bradford & Bingley plc (B&B), was established on 1 October 2010 to facilitate the orderly management of the closed mortgage books of both B&B and NRAM to maximise value for taxpayers, while ensuring that both companies continue to treat customers fairly, deliver consistently high levels of service and support those customers facing financial difficulty. Further information about UKAR is available at www.ukar.co.uk.

Media Contact:

Brunswick UKAR:

Jonathan Glass / Nick Cosgrove
Tel: +44 20 7404 5959
Email: ukar@brunswickgroup.com
Investor Relations Contact:

Neil Vanham
Tel: +44 1274 806 341
Email: neil.vanham@ukar.co.uk

Press releases

UKAR Interim Results Announcement 2016
08 Nov 2016
UK Asset Resolution Limited ('UKAR') which incorporates Bradford & Bingley plc ('B&B') and NRAM Ltd ('NRAM') today issues its interim results for the six months ended 30 September 2016 ('H1 2016/17').
[Read More]
Board Changes
26 Jul 2016
UK Asset Resolution Ltd ("UKAR") announces that Richard Pym has today retired from the Boards of UKAR, Bradford & Bingley plc and NRAM Limited.
[Read More]
UKAR Update
18 Jul 2016
UKAR today confirms the final stage of the sale of a £13bn asset portfolio to affiliates of Cerberus Capital Management LP has taken place.
[Read More]
UK Asset Resolution confirms mortgage servicing transferred to Computershare
06 Jun 2016
UKAR today confirms its mortgage servicing operations have been transferred to Computershare.
[Read More]
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.
[Read More]
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.
[Read More]