29th Feb 2016 11:41
LONDON (Alliance News) - OneSavings Bank PLC on Monday said it has bought a portfolio of UK second charge mortgages from Melbourne Mortgages Ltd.
The portfolio had a principal outstanding balance of GBP14.0 million on December 31, the company said, is "well seasoned" and "predominantly" performing.
"The loans have since origination been serviced by OneSavings Bank's secured loans business, Prestige Finance, and are therefore well known to the company," the lender said.
"The transaction is in the ordinary course of business for OneSavings Bank and has been satisfied by cash from the company's existing resources," the company added.
Shares in OneSavings Bank were down 0.1% at 274.68 pence on Monday late morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
OneSavings Bank