Wholly-Owned Investments 



UKFI’s activities in relation to the management of the Wholly-Owned Investments are set out in the UKFI Framework Document - Revised October 2010 Version  and UKFI Investment Mandate - Revised October 2010 Version

The ‘Wholly Owned’ investments comprised Northern Rock plc and UK Asset Resolution Ltd (UKAR), until the sale of Northern Rock plc to Virgin Money on 1 January 2012.  UKAR was formed during 2010 to integrate the activities of NRAM plc and Bradford & Bingley plc. UKFI managed the Government’s 100% shareholding in Northern Rock plc from its formation on 1 January 2010 until its sale.



Government investments as of 1 April 2014 comprise
  • £14.9bn of loans in NRAM;
  • £5bn of Working Capital Facility (WCF) in Bradford & Bingley plc with an additional £18.4 billion statutory debt comprising £15.7 billion owed to the Financial Services Compensation Scheme (FSCS) (via a loan from HM Treasury) and £2.7 billion owed directly to HM Treasury, reflecting the value of the retail deposits which were transferred to Abbey National plc.
QUICK LINKS

PRESS RELEASE
14th October 2014

UKAR sells mortgage portfolio for £2.7bn
UK Financial Investments Limited (“UKFI”) today announces that following a competitive sales process, UK Asset Resolution (“UKAR”) has agreed to sell a portfolio of mortgages for a price of approximately £2.7bn. This sale forms part of UKAR’s activity to reduce the size of the closed mortgage books of B&B and NRAM in a way that delivers value for taxpayers. download [218,7 KB]


PRESS RELEASE
25th July 2014

Sale of Tier 1 Notes to Virgin Money
UK Financial Investments Limited (UKFI), acting on behalf of HM Treasury, today announces the sale of its holding of Tier 1 notes issued by Virgin Money download [72,4 KB]