Granite (Northern Rock vehicle)
- Granite (Northern Rock vehicle)
Granite is a securitisation vehicle created by the British bank Northern Rock, based in Guernsey.
The purpose of Granite is to parcel up the mortgages provided by the bank and sell the value to investors. Granite has a value of around £45 billion [ [http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/19/cnrock619.xml The state of Northern Rock: anything but usual] "The Daily Telegraph" February 20, 2008. Retrieved: February 22, 2008.] .
References
External links
* [http://companyinfo.northernrock.co.uk/treasury/securitisation/mortgages.asp Mortgage Securitisation deals] at Northern Rock
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