€1.6bn Project Scariff likely to be Ulster Bank’s only home loan sell-off

€1.6bn Project Scariff likely to be Ulster Bank’s only home loan sell-off
Ulster Bank sale does not include any performing loans

Project Scariff, which includes 3,500 loans secured against primary homes and a further 2,900 buy-to-let properties, comes to the market at the same time as Permanent TSB is shedding a total of 18,000 loans

Ulster Bank is unlikely to sell any more residential mortgages after it completes the sale of a €1.6 billion portfolio of loans linked to family and investment properties.

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