M
Member
Speaking in the House of Lords on 7 September 2026
Debate
Financial Services and Markets Bill [HL]Contribution
This requirement was not written into the contract when the mortgages were sold to the vulture fund Cerberus, despite UKAR telling the BBC “Panorama” programme that Cerberus had the ability to lend to former Northern Rock customers and that UKAR believed Cerberus intended to do so. These terms were not written into the contract of sale. The mortgage prisoners were left unprotected by UKAR’s incompetence, naivety and neglect.
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