The taxpayer’s “bad bank” has sold £860 million of old Northern Rock and Bradford & Bingley mortgages to a company set up by Goldman Sachs.
UK Asset Resolution, which was established during the financial crisis to manage loans made by the failed lenders, said yesterday that it had disposed of a portfolio of equity release loans to Rothesay Life, the pension buyout business founded by the Wall Street investment bank.
The sale of about 6,200 former Northern Rock and Bradford & Bingley mortgages continues the disposal of the bank’s assets that were taken on by the government after their nationalisation nearly a decade ago.
