PPI Claim News - 4/1/2010

Credit Card PPI: Northern Rock split made official

The division of failed bank Northern Rock into two separate entities has been officially enacted.

Having been taken over the government in 2008 after exposure to the US sub-prime market, it has been split into two parts.

One of these entities will be sold off as a retail bank, while the other will continue to exist as a 'bad bank', which will manage the bank's toxic assets and cease to offer new mortgages.

The government intends to sell off the retail banking element of Northern Rock, and it has been speculated that Sir Richard Branson's Virgin Money is a leading contender to take over the firm.

National Australia Bank is also in the running, according to reports, already owning two major retail bank brands in the UK, Clydesdale and Yorkshire banks.

The government has justified the sell-off on the grounds that it will increase competition in the high street bank market.

If you would like to make a credit card charges claim to get back all your late payment / over limit fees in the last 6 years from Northern Rock then fill out the Quick Claim or call Belmont Thornton on 0845 526 0000 .

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