A Whitehall source said there is a ‘healthy interest’ in the job, which will be under the spotlight from the government, the general public and shareholders, including powerful hedge funds that have baulked at the government’s plan to put a value on the bank after stripping out its £25bn bailout package in the past.

ICAEW chief executive Michael Izza will have the final say on the eventual winner.

Earlier this year, Accountancy Age revealed that the ICAEW would play a key part in the selection process for the Northern Rock valuer and Izza’s appointment has underlined the institute’s central role in the task.

The job has been seen as a poisoned chalice by some members of the profession because of the reputational and legal baggage that comes with it, but this has not appeared to put candidates off.

The nuts and bolts of the selection process are still shrouded in secrecy, but the cut-off point for applications has been confirmed as 4 July.