Starling Bank is to buy a loan portfolio from specialist lender Masthaven worth about £500m.
The purchase, reported by the Financial Times, will see Starling further diversify its loan book, which has grown from the government COVID-19 loan schemes.
This latest deal follows Starling Bank's acquisition of Fleet Mortgages nearly a year ago, making Masthaven the challenger bank’s second lender acquisition.
In February, Masthaven announced plans to wind down its services over the next two years with the aim of selling its mortgage book by 2023.
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The new episode of The Mortgage Insider podcast, out now
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In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.
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