UK ‘bad bank’ lures buyers for its soured loans

UK Asset Resolution, which is selling off the loans of bailed-out Northern Rock and Bradford & Bingley, said in April it was selling the portfolio, named Granite, along with its mortgage servicing operations, aiming to speed up the repayment of taxpayers’ money.
“We have had indicative expressions of interest on both transactions from several parties,” UK Asset Resolution, chief executive Richard Banks said.