U.K charities have called on the Treasury to put pressure on Northern Rock to change its approach to property repossession. The charities said that the nationalized bank has been aggressive toward repossessions when borrowers fall behind with their mortgage repayments, because of its eagerness to repay the government.

Credit Action, a U.K. debt charity; Action for Debt, a debt advice service in Durham; and Shelter, a U.K. charity for the homeless, are all looking for newly nationalized banks to stop repossession unless absolutely necessary.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.