Thursday, October 1, 2020
UK

Metro Bank buys a portfolio of buy to let mortgages for £600m

Metro Bank, the trendy challenger best known for the bowls of dog biscuits it leaves around its stores, says it has just bought a portfolio of UK mortgages for just under £600m.

The lender said it had bought the portfolio, which was “well diversified across the UK”, from Cerberus European Residential Holdings for £596.7m.

The portfolio, which has a similar credit risk profile to the lender’s current mortgage book, is 92 per cent made up of buy to let mortgages, with the remainder made up of owner-occupied properties.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Leave a Reply

17 − 13 =