- National & Capital
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National & Capital Type Partnership Industry Financial Services Founded 1999 Headquarters Leigh-on-See, Essex Products Mortgages and Insurance National & Capital, or N&C as its more commonly known claim to be "one of the UK's leading mortgage N&C "welcome" page]</ref> who specialise in the placement of prime, buy to let and non-conforming mortgages. It was established in 1999 as Fasttrack Finance but later changed its name to Essex & Capital Mortgage Corporation Ltd when it was acquired by the US Investment Bank Bear Stearns. It was taken back into private ownership in 2006 as National & Capital when Bear Stearns took the decision to withdraw completely from the UK mortgage market after a rise in foreclosures in the United States in late 2006 which subsequently triggered a global financial crisis through 2007 and 2008.
National & Capital Ceased Trading in 2010
Background
In 2004 Bear Stearns announced that it took an ownership stake in UK based Essex & Capital Mortgage Corporation Limited to the London Stock Exchange. Tom Marano, senior managing director and global head of mortgage-backed and asset-backed securities at Bear Stearns, said: “We are very pleased to have had the opportunity to acquire a stake in Essex & Capital. This is a proven team with an impressive track record in the UK mortgage market. It puts in place another important element of our strategy to extend the global reach of our mortgage securities franchise and create additional growth opportunities."[1]
References
Categories:- Financial services companies of the United Kingdom
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