LONDON (dpa-AFX) - NatWest Group plc. (NWG NWG.L) said that it agreed to buy a 3.0 billion pounds portfolio of prime UK mortgages from Metro Bank. The purchase price of 3.1 billion pounds represents a 2.7 per cent premium on gross book value.
The portfolio consists of owner occupied residential mortgages with a weighted average current loan to value of about 60%.
As part of the deal, NatWest will welcome over 13,000 customers who will continue to be serviced by Metro Bank, in accordance with current arrangements, following the transfer to NatWest.
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