Starling Bank acquires Fleet Mortgages

Tuesday 27 July 2021 11:59 CET | News

Starling Bank has acquired the buy-to-let mortgage lender Fleet Mortgages in a GBP 50 million cash and share deal.

Fleet Mortgages focuses on providing mortgages to professional and semi-professional buy-to-let landlords, only via mortgage adviser distribution channels.

Starling will become the sole funder of future originations, with Fleet Mortgages able to build on its lending operation by accessing Starling’s deposit base. Day-to-day operations at Fleet will continue unchanged with the company’s existing management team.

The acquisition is part of a wider plan at the bank to expand lending through a mix of strategic forward-flow arrangements, organic lending, and targeted M&A activity.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Starling Bank, banks, challenger bank, acquisition, lending
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech