Northern Rock

House of Lords written question – answered on 1st April 2008.

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Photo of Lord Barnett Lord Barnett Labour

asked Her Majesty's Government:

Further to the Written Answer by Lord Davies of Oldham on 13 March (WA 253) regarding Granite, how many other banks and building societies have similar securitisation arrangements.

Photo of Lord Davies of Oldham Lord Davies of Oldham Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

There are 10 other UK banks and financial institutions with similar securitisation arrangements to Granite, involving a master trust and residential mortgages, and several others with securitisations on a different model. The Government do not discuss the business arrangements of particular institutions.

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