Northern Rock

KPMG, PwC, Deloitte and Ernst & Young have offered to reform the way they operate ahead of what is expected to be a highly critical report on their role in the financial crisis and lack of competition in the sector.

Northern Rock is set to offer 90% mortgages, just three years after it was bailed out by the taxpayer.

Northern Rock PLC has announced underlying losses of £232.4m for 2010 in its first annual results since being split from its toxic loans.

Lenders are expecting a surge in demand for fixed-rate mortgages after inflation rose by the fastest rate on record last month.

Northern Rock will begin seeking out potential bidders today in the first tentative steps towards returning bailed-out banks to private ownership.

Gary Hoffman, chief executive of nationalized bank Northern Rock, stepped down from his role today to head up NBNK Investments.

Northern Rock's "bad bank" has been merged with Bradford & Bingley(B&B)in a single holding company to try to improve taxpayer returns.

Northern Rock is set to sell off part of its mortgage back book in an attempt to repay around two-thirds of its £22.5bn government loan.

Taxpayers could make billions from the banks they rescued during the financial crisis.

Nationalised lender Northern Rock has returned to profit in the first half of the year.