Bank moves for Northern Rock assets

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The move could form part of a private sector rescue of the crisis-hit firm, although Bradford and Bingley is not looking to buy Northern Rock outright, the BBC said.

According to the BBC report, the bank is interested in taking on some of Northern Rock's mortgage assets and could do a deal with either of the consortia looking to rescue the firm.

Two private sector firms - a consortium led by Sir Richard Branson's Virgin and the Olivant investment group - are vying to take control of Northern Rock, which was hit by soaring borrowing costs in August.

There is also speculation that the Government is preparing to nationalise the stricken firm, a move not ruled out by Bank of England governor Mervyn King.

Northern Rock has already borrowed around £25 billion from the Bank of England since a run on the bank in September, while the Treasury has also fully assured an estimated £16 billion in savers' deposits.

A spokeswoman for Bradford and Bingley would not comment on any potential move for any of Northern Rock's assets.

She added: "We are not actively pursuing a bid for Northern Rock at this time."