October 22, 2017 3:29 AM ET

Thrifts and Mortgage Finance

Company Overview of UK Asset Resolution Limited

Company Overview

UK Asset Resolution Limited is engaged in the management of the closed mortgage books. The company’s services also include administration of the government's help to buy mortgage guarantee scheme; and help to buy ISA scheme on behalf of HM treasury. It also offers savings accounts and personal support for life events, financial difficulties, and health. The company was founded in 2010 and is based in Bingley, United Kingdom with locations in Crossflatts, West Yorkshire, Doxford, and Sunderland. UK Asset Resolution Limited operates as a subsidiary of UK Financial Investments Limited.

Croft Road

Crossflatts

Bingley,  BD16 2UA

United Kingdom

Founded in 2010

Phone:

44 1274 554 042

Key Executives for UK Asset Resolution Limited

Chief Executive Officer and Director
Compensation as of Fiscal Year 2017.

UK Asset Resolution Limited Key Developments

UKAR Expects To Sell Bradford & Bingley Loans By March

UK Asset Resolution Limited expects to sell the remainder of Bradford & Bingley plc mortgage portfolio by March 2018, as it seeks to recoup taxpayers' money. UK Asset Resolution (UKAR) said in 2016 it would sell Bradford & Bingley's £15.65 billion mortgage portfolio in two or three tranches, after the an earlier sale was delayed in the aftermath of the country's vote to leave the European Union.

UK Asset Resolution Limited Reports Earnings Results for the Six Months Ended September 30, 2016

UK Asset Resolution Limited reported earnings results for the six months ended September 30, 2016. For the six months, the company reported underlying profit before tax of £401.5 million against £612.1 million a year ago. Statutory profit reduced to £480.4 million from £856.9 million reflecting the declining mortgage book and the prior year release of a £268.3 million customer remediation provision, partly offset by the recovery of £50.0 million from insurers in relation to remediation losses incurred by NRAM in 2012.

UK Asset Resolution Announces Management Changes

UK Asset Resolution announced that it has made changes to its top management team. Chief executive, Richard Banks, and chair, Richard Pym, are stepping down and will be replaced by Finance and Investment director, Ian Hares, and John Tattersall respectively.

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Recent Private Companies Transactions

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