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.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of Invest for Property. The information provided on Invest for Property is intended for informational purposes only. Invest for Property is not liable for any financial losses incurred. Conduct your own research by contacting financial experts before making any investment decisions.
