Corporate Profile
Northern Rock is a mortgage and savings bank, lending to customers in the United Kingdom.
Its distribution network consists of 74 branches plus postal, telephone and internet operations. New mortgage business is primarily sourced through UK financial intermediary market.
Retail Savings
The Company has a savings promise in place for its retail savings customers. Northern Rock will give its savers two months’ notice of any reduction in interest rates, and where the notice on an account is greater than two months’ will provide the equivalent notice period.
Northern Rock will write to its savers at least once a year with details of all its variable rate savings accounts, including interest rates payable.
Northern Rock will give its savers two months’ notice of any changes to the Terms and Conditions of their account(s).
Residential Mortgage Lending
Northern Rock’s residential mortgage assets are spread geographically throughout the UK. The majority new mortgage business is sourced through UK financial intermediary market. For more information on the range of mortgage products available, please visit the Mortgages section.
Insurance Products
Northern Rock distributes a limited range of household insurance products primarily to residential mortgage customers, via third party providers. Life assurance products are supplied to Northern Rock plc’s customers through a relationship with Legal and General.
Northern Rock Foundation
The Northern Rock Foundation is an independent charity formed when Northern Rock Building Society demutalised in 1997 and has been supported by Northern Rock since then. The Foundation aims to tackle disadvantage and improve quality of life for individuals and groups in the North East and Cumbria. The Foundation gives grants to organisations which help people who are vulnerable, disadvantaged, homeless, living in poverty or are victims of crime or discrimination.
To find out more about the Northern Rock Foundation, visit their website at www.nr-foundation.org.uk