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 appointed Moelis & Company as advisers for the divestments. In September and October 2009 various groups of people, including the Building Societies Association, called for the Northern Rock to be remutualised. Treasury minister Sarah McCarthy-Fry said that the idea of mutualisation had not been ruled out. The Northern Rock Building Society had previously been de-mutualised in 1997, to become a bank. In the Labour Party's 2010 Manifesto there was a mention of a possible "mutual solution" for Northern Rock. The Liberal Democrat's Manifesto noted that the party would have turned Northern Rock into a building society. On 1 February it