Mortgage Portfolio Acquisition
The mortgages are being acquired from
Portfolio A has been in run off since it was originated by Edeus Mortgages and Victoria Mortgage Funding between 2005 and 2008.
Portfolio B was originated in 2018 and 2019 by
Based on loan balances as at
Portfolio B consists of 462 loans with customer balances of
The overall yield on the portfolios is 3.6 per cent before taking into account the effect of the negotiated purchase discount.
The aggregate consideration of the purchase will be 97 per cent of Portfolio A and 98 per cent of Portfolio B at the time of the completion which is expected to be
It is expected that in due course the Group will preposition these assets with the
Sir Henry Angest, Chairman and Chief Executive
James Cobb, Group Finance Director
Grant Thornton (Nominated Adviser and NEX Exchange Corporate Adviser) 020 7383 5100
Maitland 020 7379 5151
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
The directors of the Company accept responsibility for the contents of this announcement.
This information is provided by RNS, the news service of the