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11 June 2020

UKAR Update (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 […]

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24 March 2020

UKAR Update (March 2020 #2)

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, […]

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23 March 2020

UKAR Update (March 2020 #1)

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 […]

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