Northern Rock loans worth £450m sold to JC Flowers

Flowers is understood to have paid about £300m through One Savings, its small regional lender. Northern Rock's business was split into two companies in 2010 after it was nationalised: assets and banking. Richard Branson's Virgin Money acquired the plc in November 2011, while a book of old loans were handed over to UKAR to run down. In a separate deal, a debt collection business has also acquired £450m of Northern Rock loans for less than a quarter of their value, reported the Times. Marlin Financial, which describes itself as the UK's "leading litigation specialist debt buyer", won...