12th Oct 2015 05:37
LONDON (Alliance News) - Royal Bank of Scotland Group PLC is looking to buy more than GBP13 billion of mortgages up for sale by the UK government, The Sunday Times reported.
According to the report, RBS, which is majority owned by the UK government, is battling with US hedge fund Cerberus and Spanish lender Sabadell for the deal. Sabadell recently TSB Banking Group PLC in the UK.
The 13,000 home loans in question fell into government ownership since failed lender Northern Rock was nationalised seven years ago. Assets from collapsed lender Bradford & Bingley are also up for grabs.
http://www.thesundaytimes.co.uk/sto/business/Finance/article1617867.ece
By Samuel Agini; [email protected]; @samuelagini
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