Northern Rock 120% LTV Mortgages Criticism
Published / Last Updated on 20/03/2009
Northern Rock 120% LTV Mortgages Criticism
The Government has been criticised for letting Northern Rock lend millions in high risk mortgage money for over 6 months after being nationalised.
The National Audit Office revealed findings that up to £800m was still lent after Northern Rock was nationalised on higher loan to value mortgages.
We suggest this is above contempt and smacks yet again of the Government, Treasury, the FSA and indeed Mr Sandler, the new chair at Northern Rock having little or no clue what they are dealing with when it comes to personal finances.
The policy advisers that they are engaging obviously have little or no clue what drives the mortgage market.
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