UK Asset Resolution Limited (UKAR) was established on 1 October 2010 to manage the closed mortgage books of Bradford & Bingley plc (B&B) and NRAM plc (formerly Northern Rock Asset Management) on behalf of HM Treasury. Its primary mission was to maximise value for the UK taxpayer by managing these assets effectively and repaying the government loans provided during the 2008 financial crisis. Having successfully completed the sale of all remaining mortgage assets by February 2021 and fully repaid the government loans, UKAR is now in a managed wind-down phase, continuing to manage its remaining liabilities and responsibilities.

Founded in

United Kingdom