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As a farmer and a property investor I can see areas I need to develop. Property Mentor has boosted my confidence to a new level and I'm looking forward to my future property deals
Phil Robinson, March 2010 Read More Testimonials -
Having had great concerns about becoming a Property Mentor delegate and attending the Workshop, I now feel much more confident about starting up in property investment and can see that with commitment and effort it could be a very viable business
Steve Dodd, March 2010 Read More Testimonials -
Learning how to research the area(s) I am interested in and how to stack the properties will give me the confidence to know I will be able to afford the deals I go for. This means I will be able to fulfil my dream to invest in property and become financially free.
Lesley Adam, March 2010 Read More Testimonials -
The Workshop covered a much wider spectrum and much more thoroughly than other courses I have attended. It has given me more confidence to invest in property
Chris Pennington, March 2010 Read More Testimonials -
This course has been mind opening. I can now see a proven path to becoming wealthy and financially free
Luke Vincent, February 2010 Read More Testimonials -
Before attending Property Mentor I had no idea of the different strategies that are available. I now have a clear strategy to start my journey to financial freedom...Yipee!!
Tim Rutland-Dix, February 2010 Read More Testimonials -
Knowledge is King and the knowledge I learned would have taken forever without Property Mentor
Khush Nathadnaravake, February 2010 Read More Testimonials -
I've wanted to invest in property for three years. I now have the knowledge, the confidence, the tools and the Property Mentor support to succeed. My future is mapped out from today. The future is positive
Crookall, February 2010 Read More Testimonials -
A highly rewarding few days where I learnt a lot of new information and skills. I now have the confidence to go forward and take my first steps in property investing, confident that the Property Mentor team will be there to support me
Sean Stabb, February 2010 Read More Testimonials -
I was impressed with the Taster evening and the Property Mentor Workshop was excellent. It opened my mind to a whole new concept of buying property and getting maximum cashflow. Thank you.
Sarah-Jane Rootham, February 2010 Read More Testimonials -
Brilliant! Everything I was looking for to start my life. To free myself and my mind from the illusion that it is impossible and only other people do it!
Mark Williams, January 2010 Read More Testimonials -
I am confident the Workshop weekend will be the catalyst to creating financial freedom. The Property Mentor system is very simple and with a little application it will change my life
Philip Terry, January 2010 Read More Testimonials
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Northern Rock Split
Following on from their earlier plans to split Northern Rock in two – as part of the government’s strategy to improve lending – this plan has now been made official, according to BBC News.
Splitting later this year into ‘Bankco’ (which shall hold savers money and carry out new lending) and ‘Assetco’ (which shall hold the rest of the mortgages and focus on repaying the governments outstanding loan of £8.9bn); Northern Rock hope this split will make it easier for them to implement their plan of lending an extra £14bn in the next 2 years.
The nationalised Northern Rock bank is to be split in two later this year.
The bank's plan will see a new "Bankco" holding its savers money and carrying out new lending, and holding some of its existing mortgages.
The "Assetco" will hold the rest of the mortgages and will be responsible for repaying the outstanding £8.9bn of the government's loan to the bank.
Northern Rock was rescued from collapse in the autumn of 2007, and formally nationalised in early 2008.
The idea of a split was first outlined earlier this year as part of a changed government strategy for the bank, but has now been confirmed subject to European Union (EU) approval.
"We feel this is the best way of providing value for money to the taxpayer," said a spokeswoman.
The EU has been investigating the extent of the UK government's state aid for the bank.
More lending
Earlier this year Northern Rock said it would slow down its previous plan, which had been to raise money by redeeming its mortgage loans as fast as possible.
At the government's behest it has now agreed to start expanding its lending again, by an extra £14bn worth of mortgages in the next two years.
"It is too early to tell if Assetco will lend new mortgages" said the spokeswoman.
Total taxpayer support for the bank has amounted to £26.9bn, although most has now been repaid.
The plan is that the remaining amount will be repaid by the end of 2010.
The proposed split depends on EU approval under its rules governing state aid for businesses.
"We are still developing the plan and details still have to be worked out," the spokeswoman added.
More about the author of this article
Fraser Stirling, Property Mentor Delegate
A first time buyer during the property boom of 2007, Fraser Stirling appreciates how high property prices and 20%-40% mortgage deposits can restrict your investment options. However, with the support of a proven investment system, Fraser has successfully managed to change all that and become the proud owner of multiple properties – a journey he feels Property Mentor can help other first time buyers to achieve too. Read more
To see a full list of our writers and find out more about them please visit the authors page.
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