Remaining BOSI mortgage portfolio for sale

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RedOnion

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Report in Irish Times today re Lloyd's banking group putting remaining mortgage portfolio for sale.

Highlights:
C. 5bn in loans
Only 3% in arrears
C. 28% in negative equity
Large portion of interest only loans (impact on negative equity)
Assumed largely tracker portfolio

This will be the largest portfolio sale of performing mortgages, so will be interesting to see how it sells in context of recent Danske sale.

https://www.irishtimes.com/business...le-to-finally-quit-ireland-1.3300206?mode=amp
 
Hi,

I'm sure they'd be only too delighted to announce this sale at their next AGM.

I'd expect there to be plenty of competition for this portfolio, given the level of performing loans and general market appetite. That said, I know there is a significant percentage of interest only loans in the portfolio, so that will influence the price to be paid.
 
Hi, has there been any developments regarding the sale of Lloyds' remaining BOSI homeloans?
 
I haven't heard anything since, I had forgotten about this. I suspect there might be little appetite in the market until the court case re Tanager has been sorted to ensure buyer can enforce security.
 
Reports in the Sunday times yesterday that this sale has been launched, with initial bids due by around Easter.

It'll be interesting to see how far BoI or AIB go for this.
 
cremeegg said:
Any chance I could buy my own.
Click to expand...


Extremely unlikely, unless they have decided to do a complete about turn. Nonetheless, it's probably worth a quick call, assuming you have funds in place to settle.

While they were open to individual negotiation and settlements on their Irish commercial loans, my understanding is that they have done almost no individual settlements on Homeloans to date (the odd exception has been made in "special circumstances" such as real hardship case, or a case where one of the parties was dying, but even then individual discounted settlements have been few and far between).
 
With property prices increasing, rates remaining low, employment levels and the general economy all improving, they will benefit from having taken their time with this.
 
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