Holder vote at U.K. lender complicates sale efforts

Article Abstract:

Northern Rock PLC shareholders voted to restrict the board's power in negotiating a bailout of the troubled mortgage lender. The vote demonstrates shareholder opposition to a deal that would have a significantly negative impact on their holdings, which may complicate the UK government's efforts to locate a buyer for Northern Rock. The government has loaned the firm $50.9 bil so far.

Government expenditures, Financial management, Investor relations, Government finance

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Olivant keeps door open for move on Northern Rock

Article Abstract:

UK investment company Olivant Advisers Ltd. announced it will consider a bid for troubled mortgage bank Northern Rock PLC if the government changes its strategy regarding the refinancing of Northern Rock's debt. The government plans to use three-year bonds; Olivant is looking for a longer time frame for the bonds.

Strategy & planning, Investment Offices, Investment Companies, Open-End Investment Funds, Investment Funds & Trusts, Planning, Company business planning

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U.K. mortgages feature new twists: first-time home buyers are offered array of plans to increase size of loans

Article Abstract:

Mortgage lenders in the U.K. are offering an array of innovative products to first-time house buyers.

United Kingdom, Marketing procedures, Mortgages, Innovations, Marketing, Company marketing practices, Customer relations

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