Northern Rock repossessions up Northern Rock saw repossessions jump by 63% in 2008, while making a £1.4 billion loss
It held 3,620 repossessed homes at the end of 2008, up from 2,215 a year earlier but lower than the 4,201 it held at 30 September 2008.
The nationalised bank has reduced its government loan, paying off £18 billion of its £26.9 billion loan. It has also confirmed that it will offer £14 billion in lending over the next two years. New mortgage lending at the bank was about £2.9 billion in 2008, compared with £29.5 billion in 2007.