Andrew Tyrie seeks Treasury guarantee over loans sold to Cerberus

Chair of Commons Treasury select committee has written to George Osborne to ask for assurance on 13bn sale of Northern Rock loans

Concerns that 125,000 former Northern Rock borrowers might be adversely affected by the sale of their loans to a US private equity group have prompted an influential parliamentarian to seek assurances from the Treasury.

Andrew Tyrie, a Conservative MP and the chair of the Commons Treasury select committee, has written a letter in relation to George Osborne's announcement of the 13bn sale of mortgages and unsecured loans to Cerberus, the largest ever financial asset sale by a European government.

Related: Northern Rock mortgages worth 13bn sold to US private equity firm