UK Asset Resolution

UK Asset Resolution (UKAR) was a government-backed organization responsible for managing and selling off the UK's remaining government-owned mortgages and financial assets after the financial crisis. It inherited problematic loans from certain banks, particularly Northern Rock, and aimed to recover value for taxpayers by responsibly managing and eventually disposing of these assets. UKAR operated with the goal of balancing financial recovery with fair treatment of borrowers, and its activities helped reduce risks to the government and taxpayers. In 2018, UKAR was dissolved, with its responsibilities transferred to other entities as part of government efforts to streamline financial management.