Bank of England

Northern Rock's top managers, including chief executive Adam Applegarth, have today faced a grilling from the Treasury Select Committee in Parliament, in which MPs said they should resign.

A consortium led by Richard Branson's Virgin Group is reported to have put forward a proposal to rescue Northern Rock.

The Bank of England's financial backing for Northern Rock is rapidly approaching £13bn, according to New Star economist Simon Ward.

Virgin Group is reported to be considering taking a majority stake in troubled mortgage lender Northern Rock.

The UK housing market is experiencing negative growth for the second successive month, according to the Royal Institute of Chartered Surveyors (RICS).

Less than one in fifteen home buyers recognise low interest rates and inflation as a key reasons for Britain's house price boom, according to research from Propertyfinder.com.

The Bank of England's Monetary Policy Committee (MPC) has decided to keep interest rates at 5.75% following a meeting today.

Northern Rock may have received another bailout from the Bank of England, according to New Star economist, Simon Ward.

House price growth remained steady at around 11% per year in August, according to Assetz composite house price index.

Close Mortgages, the mortgage arm of Close Brothers, has today suspended its applications process.