100% Mortgages lender Northern Rock shares jump.

New investors interested in buying 100% mortgages lender Northern Rock have pushed the share price up 10% today. The two new names in the frame are Blackstone and Apollo management.

The international credit crunch that which affected 100% mortgages lender Northern Rock was caused by the collapse of American bad credit mortgages lending market.

100% mortgages lender share price had plunged as much as 80 percent after the lender was bailed out by the Bank of England in September.

Takeover approaches could prompt an auction for the ailing 100% mortgages lender, where the customers last month rushed to withdraw their savings in a crisis sparked by the collapse of the US bad credit mortgages sub-prime market.

The media on Sunday reported that US financial giant Citigroup Incorporated was set to lend 100% mortgages lender Northern Rock up to 10 billon pounds to help potential buyers finance the purchases.