Nationwide acquires Bank of Ireland’s UK portfolio

The mortgages are all in England, Scotland and Wales, with an average loan to value of approximately 50%. At the time of the deal, none of the accounts were in arrears.

Graham Beale, chief executive of Nationwide, said: “This is excellent news for Nationwide and for our customers. We have acquired a high quality portfolio of low-risk mortgages with an impressive LTV ratio that brings real value to the society.

“Our new customers can take confidence in the fact that their mortgages are now being looked after by the world’s biggest building society with over 150 years’ experience of helping people own their home.”