Nationalisation of Northern Rock book over 3 years; this would be achieved by Lloyds TSB offering new mortgages to Northern Rock customers who are nearing the end of their fixed-rate deals. It was confirmed on 20 May 2008 that Northern Rock would continue to sponsor both Newcastle United and the Newcastle Falcons, the former due to the long-term agreement between them and the club. Chief Executive Ron Sandler was quoted as saying: "We have already ended a number of sponsorships that I inherited... but we have chosen to continue the sponsorship of Newcastle United and Newcastle Falcons, partly because of commitments we have entered
Nationalisation of Northern Rock by actively encouraging mortgage customers to leave when their mortgage deal matures. The reason for this change being government policy to increase the availability of credit. This £14 billion was split into £5 billion in 2009 and £9 billion in 2010. In March 2009 mortgages issued by the bank rose by 70%, compared to the previous month. In February 2010 "The Times" claimed that Northern Rock was interested in buying some of the branches of RBS and Lloyds. In February 2010 the government decided to remove the 100% guarantee of the deposits at Northern Rock. Savers received 3 months notice