UKAR has commenced the potential sale of a portfolio of mortgages

19 Jun 2014

UK Asset Resolution (UKAR), the holding company for Bradford & Bingley plc (B&B) and NRAM plc (NRAM), has appointed Credit Suisse to commence a marketing process for a potential sale of a portfolio of performing residential mortgages from the legacy books of B&B, NRAM and Mortgage Express.

The completion of any sale will not affect the terms and conditions of the mortgages sold, and the continued fair treatment of customers will be a key consideration for UKAR in assessing the merits of a sale.

The proposed sale is in line with UKAR's strategy and is part of the orderly wind-down of the closed mortgage books of both B&B and NRAM. UKAR will only complete the transaction if the sale price achieved represents value to the taxpayer.

ENDS

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Media Contact: UKAR Investor Relations Contact:
Brunswick UKAR
   
Jonathan Glass / Nick Cosgrove
Tel: +44 20 7404 5959
Email: ukar@brunswickgroup.com
Neil Vanham
Tel: +44 1274 806 341
Email: neil.vanham@ukar.co.uk


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 and 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.

Press releases

UKAR Interim Results Announcement 2017
30 Nov 2017
UK Asset Resolution Limited ('UKAR') which incorporates Bradford & Bingley plc ('B&B') and NRAM Limited ('NRAM') today issues its interim results for the six months ended 30 September 2017 ('H1 2017/18').
[Read More]
UKAR Annual Report & Accounts 2017
04 Jul 2017
UK Asset Resolution Limited ('UKAR') which incorporates Bradford & Bingley plc ('B&B') and NRAM Ltd ('NRAM') today issues its results for the year ended 31 March 2017 (‘2016/17').
[Read More]
Board Changes
27 Jun 2017
UK Asset Resolution Ltd (“UKAR”) announces that Michael Buckley has today retired from his role as Non-Executive Director from the Boards of UKAR, Bradford & Bingley plc and NRAM Limited.
[Read More]
Board Change
06 Apr 2017
The Boards of UK Asset Resolution Ltd, Bradford & Bingley plc and NRAM Ltd announce the appointment of Peter Norton as a Non-Executive Director of each Company, with immediate effect.
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UK Asset Resolution announces sale of Bradford & Bingley assets for £11.8 billion
31 Mar 2017
Bradford & Bingley plc (B&B), part of UK Asset Resolution (UKAR), today confirms that following an open and competitive process it has agreed to sell two separate asset portfolios comprising performing buy to let loans for a total of £11.8bn to Prudential plc and to funds managed by Blackstone.
[Read More]
Board Change
01 Mar 2017
UK Asset Resolution Ltd (“UKAR”) today announces that David Lunn, a Non-Executive Director appointed by UK Financial Investments Ltd (”UKFI”), stepped down on 28 February 2017 from the Boards of UKAR, Bradford & Bingley plc and NRAM Limited to take up a new position within HM Treasury.
[Read More]