Bank of Ireland sells €250m of buy-to-let loans to US fund

Lender sells block of non-performing loans to Cerberus unit at 40% discount to face value

Bank of Ireland said it was ‘the intention’ that the loans will be serviced by Link ASI, an agent that services other loan portfolios for Cerberus. Photograph: Niall Carson/PA Wire

Bank of Ireland said it was ‘the intention’ that the loans will be serviced by Link ASI, an agent that services other loan portfolios for Cerberus. Photograph: Niall Carson/PA Wire

Bank of Ireland has agreed a deal to sell a €250 million portfolio of non-performing buy-to-let property loans to US fund, Cerberus Capital Management.

The loans, which are mainly secured on investment properties across the State, are being sold at discount of 40 per cent of their book value.

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