NORTHERN Rock has agreed to sell its portfolio of Lifetime home equity release mortgages to JPMorgan for £2.25bn.
The portfolio comprises gross assets with a balance sheet value of £2.2bn - around 2pc of its total assets as at June 2007 - though JPMorgan is paying a premium of 2.25pc, representing approximately £50m....
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till