Ulster Bank to sell €800m of mortgages to CarVal

The portfolio includes 2,800 owner-occupier loans with a face value of €715m

Ulster Bank said that it will be in contacted with all affected customer “at the appropriate time to help them as their loans transition to the new owner.”

Ulster Bank said that it will be in contacted with all affected customer “at the appropriate time to help them as their loans transition to the new owner.”

Ulster Bank has agreed to sell €800 million of mortgages, mainly issued on family homes, to US distressed debt specialist CarVal Investors.

Pepper Finance Corporation (Ireland) DAC will become the legal owner and Servicer of the mortgages, the bank said in a statement on Tuesday.

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