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UK Asset Resolution Limited (UKAR)

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UK Asset Resolution Limited (UKAR)

Profile:

What we do
UKAR has been established to facilitate the orderly management of the closed mortgage books of both B&B and NRAM to maximize value for taxpayers.
The Executive team of UKAR manages both organisations focusing on this common objective, whilst ensuring that both companies continue to treat customers fairly, deliver consistently high levels of service and support those customers who are facing financial difficulty.
In addition, from 8 October 2013, UKAR Corporate Services (UKARcs) became responsible for the day to day administration of the Government's Help To Buy Mortgage Guarantee Scheme on behalf of HM Treasury.
How we work
UKAR is not authorised or regulated by the Financial Conduct Authority (FCA). UKAR does not deal with customers directly, who continue to be serviced through the subsidiary businesses of B&B and NRAM. Both B&B and NRAM are individually authorised and regulated by the FCA.
UKAR's new subsidiary business, UKARcs, operates entirely separately from UKAR's core function of servicing the loan books of B&B and NRAM.

Overview:

UKAR is simply short-hand for UK Asset Resolution Limited.

We were established by the Government in October 2010, and work on behalf of the UK tax payer, helping to manage the mortgages of Northern Rock Asset Management (NRAM) and Bradford & Bingley since they closed to new business.

We’re not here to sell anything, we’re here to lend a listening ear and provide all our customers with the support and guidance they need to plan for a more financially secure future.

We’re focused on delivering a service that treats everyone fairly and gives support to those customers who need it most.

And our aim? To help our customers keep up to date with mortgage payments and be in a position to either pay off their mortgage in full, or move it to another lender.

Based in West Yorkshire and the North East, and with nearly 2200 colleagues working at our main sites, UKAR are making a positive impact on the lives of our customers, whilst maximising value for the UK taxpaying public.

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