Metro Bank confirms talks on loan sale

Embattled high street lender Metro Bank on Monday confirmed it was in talks to sell a mortgage portfolio.

“There can be no certainty at this stage that an agreement will be reached. A further announcement will be made if and when appropriate,” the bank said in a statement.

Media reports over the weekend said Metro was in talks on a £500m deal to‎ offload a mortgage portfolio back to a US hedge fund Cerberus Capital Management, from which it has bought more than £1bn of assets in recent years.