Metro Bank has bought a portfolio including former Capital Home Loans mortgages from US private equity firm Cerberus.
The mortgage book is made up of former CHL buy-to-let loans and Dutch mortgages from CERH RSMC SUB B.V.
The deal is funded entirely by Metro’s existing cash and is expected to close on 1 March.
The £523m figure represents the value of the mortgages when brought onto Metro’s balance sheet.
VALUE AT WHICH ACQUIRED MORTGAGES WILL BE TAKEN ON TO BANK‘S BALANCE
Last July Metro bought a £600m book of loans from Cerberus, also with its own cash.
Last week Metro Bank reported its first yearly profit and said it would open 12 branches this year and hire 900 more people.