Northern Rock's withdrawal from Lifetime mortgage market

The final comment from the Northern Rock spokeswoman gives the game away. You don’t have to be a rocket scientist to work out that other lenders withdrawing from the sector would increase demand, not reduce it. By saying “other lenders withdrawing from the sector probably would have been a factor in the decision” what Northern Rock is really saying is that it doesn’t want to be one of a smaller number of lenders still offering lifetime mortgages. That is nothing to be ashamed or defensive about. It is just a realistic assessment of the situation we are in.