Northern Rock started life as the Northern Counties Permanent Building Society (1850)
and Rock Building Society (1865). On 1/10/1997 Northern Rock joined the stock market and the 800,000 members each received
a windfall of at least £2,150.
The Northern Rock was nationalised on 22/02/2008.
the year ended 31/12/2009 Northern Rock made a statutory full year loss before tax of £257.5 million
For the year ended 31/12/2008 Northern Rock made a loss of £1309.7 million.
Quarter 1 2009 Trading Statement
Gross loan outstanding to government £14.6 billion
Net amount outstanding to government £9.8 billion
properties held in possession
3.67% residential arrears 3 months
or over (2.92% 31/12/2008)
Average loan to value of new lending in 1st
Gross mortgage lending in 1st Quarter £550 million
Northern Rock subscribes to the banking
code and is a member of the financial services compensation scheme.