Written question asked by Richard Burgon (Labour) on Thursday, 3 December 2015, in the House of Commons. It was due for an answer on Tuesday, 8 December 2015 (named day). It was answered by Harriett Baldwin (Conservative) on Tuesday, 8 December 2015 on behalf of the Treasury.
Granite
- Question
-
To ask Mr Chancellor of the Exchequer, what steps the Government has taken to ensure that former Northern Rock mortgage holders will not be disadvantaged by the sale of UK Asset Resolutions' Granite Portfolio to Cerberus.
- Answer
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A key consideration in the selection of the successful bidder was the continued fair treatment of customers. Cerberus was selected following a thorough due diligence process, and like any buyer, remains subject to the regulatory oversight of the Financial Conduct Authority; including the requirement of Treating Customers Fairly.
Day-to-day management of the assets within the Granite portfolio will remain with the mortgage servicing arm of UK Asset Resolution, and there will be no changes to the terms and conditions of the mortgages involved in the transaction.
Secondary information
- Type
- Written question
- Reference
- 18745
- Session
- 2015-16
- Subjects
- Mortgages Sales Granite UK Asset Resolution Cerberus Capital Management
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2016-07-05 18:50:13 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2015-16/18745
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2015-16/18745
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2015-16/18745