So, how has it been for you since Northern Rock?

Friday was the fifth anniversary since the run on Northern Rock.

So, apart from the small matters of credit crunch, double-dip recession, a decimation in the number of mortgage advisers and a housing market that now functions at half its normal level of activity, what else has happened since 2007?

First and foremost, Bank of England base rate has dropped from 5.25% to a previously unthinkable 0.5% – theoretically good for borrowers and bad for savers.

While it is true that savers – particularly those who used to rely on interest to provide or boost their income – have been hit hard, borrowers have not done particularly well.

Cautious lenders demanding high deposits have left first-time buyers struggling, while credit has become more expensive for some borrowers, with credit card rates going up by 2.03%.

A collapse in actual number of mortgage products on the market has also been a feature of the last five years. According to MoneySupermarket, the figure has fallen from 22,457 in September 2007 to just 2,520 now.

Of course, it’s not all bad news – for borrowers with deposits of at least 40%, there are some historically low-priced fixed and variable mortgages. And for anyone who succeeds in getting a mortgage, rates are low: down from an average of 6.25% in 2007 for a three-year fixed mortgage to 3.68% today. For someone with a £150,000 mortgage, that is a monthly saving of £224.

Another big feature of the world post-Northern Rock has been the spike in demand for gold, seen as a safe haven in a time of crisis.

Companies like BullionVault, the world’s largest online gold bullion market for private investors, have been major beneficiaries.

Indeed, someone who pulled £10,000 cash out of Northern Rock and put it into gold instead will have since made a gain of over 200%.

But for anyone working at the coal face of the mortgage and house sales industries, it’s been – at the least – hard work.

Mortgage introducers have seen their numbers drop from an estimated 30,000 to one-third of that. Estate agents also saw a massive cull in their numbers but have been able to fight back, thanks to a huge surge in lettings.

So, how have the last five years been for you?