Make mortgage repayments a priority, borrowers warned

UK Asset Resolution (UKAR) is to contact 30,000 Bradford & Bingley and Northern Rock Asset Management customers to warn them of the real possibility of losing their homes. Bradford & Bingley and Northern Rock were nationalised in 2008 and are now owned by the taxpayer. They are not open to new business. UKAR manages the £80bn of mortgages bailed out by the taxpayer and will phone those borrowers it fears are most at risk of falling behind on their mortgage repayments. Chief executive Richard Banks said: "Some people won't cope when interest rates rise, but for others there are remedie...