trending Market Intelligence /marketintelligence/en/news-insights/trending/z5xHzVEe5cGa3cj6ceFNpA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Metro Bank completes deal to buy UK mortgage portfolio

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Metro Bank completes deal to buy UK mortgage portfolio

Metro Bank Plc completed the acquisition of a portfolio of U.K. mortgages from Cerberus European Residential Holdings BV for a consideration of £596.7 million.

The portfolio, which is being acquired at a discount to par, consists of about 92% buy-to-let mortgages, with the remainder being owner-occupied. The portfolio has a weighted average seasoning of about 10 years, weighted average loan-to-value of 70% and a current expected pay rate of 1.6%, primarily linked to the Bank of England base rate.

Metro Bank noted that all lending in the portfolio is secured on property and has a similar credit risk to the lender's current mortgage book. The consideration, which is being financed from the bank's existing resources, represents the value at which the acquired mortgages will be taken on to Metro Bank's balance sheet, the lender said June 2.

Metro Bank CEO Craig Donaldson said the transaction increases the bank's loan-to-deposit ratio to approximately 78%. The bank expects its loan-to-deposit ratio to reach about 80% in 2020.