Starling Bank is to buy a loan portfolio from specialist lender Masthaven worth about £500m.
The purchase, reported by the Financial Times, will see Starling further diversify its loan book, which has grown from the government COVID-19 loan schemes.
This latest deal follows Starling Bank's acquisition of Fleet Mortgages nearly a year ago, making Masthaven the challenger bank’s second lender acquisition.
In February, Masthaven announced plans to wind down its services over the next two years with the aim of selling its mortgage book by 2023.
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