UKAR offloads B&B mortgages to Barclays-led consortium

PA-UK houses
By Asad Ali
26 Apr 2018

UK Asset Resolution (UKAR) announced on Thursday that it had sold a portion of Bradford & Bingley’s (B&B) remaining mortgage book to a consortium of banks led by Barclays, following a bidding process by a ‘small handful’ of potential buyers.

The winning bid by the Barclays-led consortium, with Pimco funds providing equity, will net £5.3bn for UKAR, and allows B&B to fully repay the remaining £4.7bn loan outstanding to the Financial Services Compensation Scheme (FSCS).

The consortium — consisting of Barclays, HSBC, Lloyds, Nationwide, Natwest and Santander — ...

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