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Nic Stevenson, spokesman for the Treasury, said an advertisement for a valuer would be put out before the start of summer inviting people to come forward for a formal application process.

Mr Stevenson said while the Treasury had not received any formal approaches from companies offering to do the job he did not expect anyone to come forward as an advertisement had not been put out yet.

He said: "We were not expecting anyone to come forward as we have not advertised yet. People do not know what they would be coming forward for.

"We are working on the advertisement at the moment and approaching us now would be like announcing we were building a new building and then just hoping some builders turn up. It would be a bit unusual that anyone had some forward at this stage."

However, Mr Stevenson said he was sure the Treasury was currently in talks with interested parties but would not expect any formal approaches to be made until the advertisement had been published.

A valuation order for Northern Rock was passed in Parliament in March with an informal deadline of three months thought to have been set.