Ulster Bank prepares to sell €900m worth of non-performing mortgage loans

Ulster Bank is preparing to sell €900 million worth of non-performing mortgage loans.

The portfolio is made up of family homes and buy to let properties.

The company has said they are obliged to reduce the level of non-performing loans on their balance sheet.

Business Journalist Gavin Mc Loughlin said it is one of the biggest sales of such loans to date.

"There are around 3,200 family home mortgages which are included in this, €900 million in total was lent out on these loans that Ulster Bank is selling.

It is one of the biggest sales of non-performing loans that we've seen to date.