Ulster Bank offloads €800m of toxic mortgages
Pepper Finance buys Project Deenish portfolio of about 3,200 non-performing loans
Ulster Bank has agreed the sale of a €800 million non-performing loan portfolio to vulture fund in the latest disposal of toxic mortgages by a bank.
The bank said that Pepper Finance will become the legal owner and servicer of the loans, with the purchase funded by Carval, the investment fund manager.
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