Sunday, 30 November 2008

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News Results for: Over Extended Mortgage
International Herald Tribune
: HSBC and state-owned rival Northern Rock said they had raised repayment rates on some mortgages, despite efforts by the government to encourage banks to lend more. Northern Rock said on Wednesday it had raised rates on some fixed-rate loans by between 0.2 and 0.3 of a percentage point. The move takes the rate on the...
A cameraman films the facade of a branch of Northern Rock is seen in London, Monday, Feb. 18, 2008. The British government was to introduce emergency legislation Monday to temporarily nationalize Northern Rock PLC amid strident criticism of the move from opposition lawmakers and shareholders in the stricken mortgage lender. Trading in Northern Rock shares was suspended on the London Stock Exchange as the government made preparations to take the bank into state control after deeming that two private takeover offers did not offer the taxpayer "sufficient value for money.
photo: AP / Matt Dunham



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