Starling Bank is buying the loan portfolio from specialist lender Masthaven. The acquisition will help Starling to diversify lending away from the government-backed Covid loans that constitute most of its assets.
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Starling snaps up £500m mortgage book in shift from Covid loans
Masthaven’s mortgage sale process follows its announcement earlier this year that it was withdrawing from UK banking. The lender, which acquired a banking licence in 2016, said it took the decision after realising a “significant” amount of long-term capital was required for its future growth plans.
