It was publicly owned through the British Government's UK Asset Resolution following Northern Rock's nationalisation in 2008 until NRAM plc was sold to Cerberus Capital Management in 2016.

[2] Since nationalisation, the assets of NRAM have been sold off in parts, culminating in November 2015 with the sale of £13 billion of mortgages and loans to Cerberus Capital Management.

[15][16] In December 2014, the High Court ruled that the compensation must be paid in a test case that NRAM brought against one of its employees.

[18] In July 2013, private equity firm JC Flowers agreed to buy $450 million of the bank's loans from the British Government.

In 2015 UK Financial Investments announced it would seek expressions of interest for the divestment of mortgage servicing capabilities of the business as well as the Granite securitisation vehicle.

[20] In November 2015, the company confirmed the sale of £13 billion of mortgages and loans to Cerberus Capital Management, largely made up of a part of its Granite portfolio, for £280m more than their book value.

[22] Upon completion of the acquisition of NRAM plc, Cerberus sold £3.3 billion of mortgages to the UK bank TSB, which are administered through its Whistletree division.

[23] Northern Rock (Asset Management) holds and services the majority of existing mortgage and unsecured loan accounts.

NRAM held the assets of the "Granite" securitisation vehicle, created by Northern Rock in 2001 to parcel up the mortgages provided by the bank and sell the value to investors.