Solihull-based Secure Trust Bank has sold its mortgage business for £54.6m to an unnamed global financial institution.
The buyer used a financing vehicle called Jacqali DAC to acquire the 1.5m loan portfolio, which had a net book value of £77.7m in December.
The sale marks STB’s full exit from the residential mortgage market.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
