[ad_1]
Non-bank lender, Dilosk bought another mortgage portfolio.
It acquires a € 182 million residential mortgage loan from the Leeds Building Society, which is leaving the market.
It consists of 789 mortgage loan accounts, with the closing of the transaction next month.
Pepper Finance will hold the legal title to the mortgages and will also act as a servicer and administrator, but the ultimate owner will be Dilosk.
Pepper is regulated by the Central Bank as a credit services company. Clients have been informed of the proposed transfer of legal ownership of their loans and mortgages to Pepper.
This transaction will be the fourth acquisition of Dilosk's portfolio.
The specialized mortgage lender initially entered the mortgage market in 2014 through the acquisition of ICS Mortgages from Bank of Ireland, including the brand and distribution platform, and a portfolio mortgages of 223 million euros.
Dilosk intends to enter the residential mortgage market during the first half of next year, which will add to its current offer in the rental sector. He will use the ICS brand name.
Managing Director Fergal McGrath said, "It will be a competitive mortgage product."
He said the acquisition of the Leeds portfolio was part of the company's long-term growth plan, targeting both existing high performance residential mortgage portfolios and new mortgages.
She is currently specialized in the rental market. The last transaction means that it will manage € 600m of mortgages.
Irish independent
[ad_2]
Source link
