The roots of Northern Rock can be traced back to 1850. Previously a regional building society, Northern Rock converted to plc status in 1997 and has grown to become the fifth largest UK mortgage lender and the eighth largest UK bank by market capitalisation.
Northern Rock set up in Denmark in February 2007 with an online, easy access account that offers Danish savers a very competitive interest rate. To support this, a Northern Rock branch in Copenhagen was also opened at the same time.
Northern Rock plc is a specialist mortgage lender, mainly providing loans for residential mortgages, along with smaller amounts of secured commercial property lending and personal finance in the UK. Funds are raised globally, through a diversified programme that includes both onshore and offshore personal savings accounts, securitisation of mortgages, covered bonds and wholesale money.
The Head Office is based in the north east of England, in Newcastle-upon-Tyne. We have around 6.000 employees and a customer base that includes around 700.000 borrowers and over 1,3 million personal savings accounts. We operate our business nationally, throughout the UK and have established savings operations in the Republic of Ireland and Guernsey.
Northern Rock plc has is the most cost efficient bank in UK. This efficiency is enhanced by low cost, effective distribution and enables us to offer competitive deals to our customers.
Northern Rock is committed to conducting its operations in a fair and balanced manner, respecting social and ethical issues that may arise. We believe that operating in a socially responsible manner makes sound business sense and such principles are embedded in our daily operations. We also remember those less fortunate in the community and donate 5% of our pre-tax profits to The Northern Rock Foundation. The Foundation supports charitable causes throughout the north of England. The Foundation has received around £175 million to date.
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