It appears that Metro Bank has resuscitated a plan to sell much of its mortgage book after being rescued from potential collapse.
There is now word yet on possible buyers.
The lender says it’s in discussions over a potential sale of residential mortgages, handled via Morgan Stanley to raise capital.
Sky News says the size of the portfolio is reportedly yet to be finalised, with suggestions that it could end up between £3 billion and £4 billion - slightly above the level reported last year when it reportedly entered talks with Barclays about a possible disposal.
At that time the mortgage sale was seen as necessary to bolster Metro Bank’s balance sheet after the Bank of England did not approve its request to use its own models to assess risks on its mortgages and assets.
Metro Bank has some 2.7m customers since becoming the first new lender to open on Britain's high streets in over 100 years back in 2010. It now has over 70 branches across the country.
Sky says the crisis which engulfed it last autumn triggered fears of a run on its deposit base, but withdrawals rapidly returned to normal levels in the aftermath of the recapitalisation agreement.
High street lender Metro Bank has reduced the rates on its...
Metro Bank says it will not, after all, be selling its...
Metro Bank has appointed Jeremy Cook as head of corporate relationships...
Some 3m UK households are to be hit with further increases...
Mortgage approvals for house purchases fell slightly from 60,800 in April...
The latest residential sentiment survey from the Royal Institution of Chartered...
Fraudsters attacking the conveyancing sector, successfully stealing large sums of money...
This year marks 30 years since Mortgage Brain first introduced mortgage...
Each time I find something interesting in the data the National...
The Treasury has recently proposed that a new type of Isa...
.jpg)
Mortgage approvals for house purchases fell slightly from 60,800 in April...
The latest residential sentiment survey from the Royal Institution of Chartered...
One of the Bank of England monetary policy committee members has...
Who are you? I’m the Director of Sales for both...
Who are you? Edward Trustworth, 23 What does it say on...
This week, SearchFlow launches it new brand. Group Marketing...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment