Northern Rock loans offers highly competitive interest rates for current mortgage customers who are looking to take out a personal secured loan. Northern Rock is a relatively small bank. It was one of a clutch of building societies to demutualise become a bank and issue shares on the stock market in the late 1990s.

Since becoming a bank Northern Rock loans have established a reputation as being among the lowest interest rates available in the personal loans and secured loans markets. In 2008 however they ceased offering personal and secured loans to new UK customers.

Northern Rocks roots go back to the 1850s in Newcastle but the modern organisation was formed in 1965 when the Northern Counties Permanent and the Rock Building Societies merged to form Northern Rock Building Society. In October 1997 the Society converted to a plc.

As a bank Northern Rock is the largest financial institution based in the North East of England but more than half of its business is now done outside the North East.

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2009-03-03 09:37:37 © Moneyextra.com