Bank of England

Northern Rock has today agreed to sell £2.2bn of mortgage assets to investment bank JP Morgan.

The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates steady at 5.5%.

Defaults on mortgage payments are expected to increase over the next three months, the Bank of England warns today.

Northern Rock is to hold an emergency meeting on 15 January to discuss its sale process.

The amount of money lent for mortgages has declined by 8% since October, indicating a slowdown in the market, according to the Council of Mortgage Lenders (CML).

The Bank of England's Monetary Policy Committee (MPC) made a unanimous decision to cut interest rates at the beginning of December, it was revealed today.

Banks and financial institutions have borrowed £10bn made available by the Bank of England to ease problems in global credit market.

Mervyn King, governor of the Bank of England, has been accused of taking a U-turn over his decision to collaborate with other central banks to provide bailouts to struggling financial institutions.

Northern Rock's small shareholders have given their backing to the latest bid from Lugman Arnold's investment group, Olivant.

Clive Briault's warning that 1.5 million people due to remortgage next year will find it "difficult, if not impossible to refinance their mortgage on favourable terms" could cause undue panic, according to Newcastle Building Society.