Northern Rock has announced that it is now offering a 90% Mortgage to borrowers, which is great news for the likes of first time buyers. The lender that is now government owned were the first bank in the U.K. to be taken over and has been paying off their incredible high debts. The real question is, should Northern Rock be the bank to be offering 90% mortgages?, especially when they have just announced a £232.4 million loss.

Banks restricted on mortgages 

All the banks and buildings societies hands are tied when it come to new mortgages, hence why they are being so cautious/fussy on who they lend money to at the moment.