Marlin purchases £530m of Northern Rock personal loan assets
4375850315_e8cd4d4681
Photo Credit: Alan Cleaver via Compfight cc

UK specialist ‘debt buyer’ Marlin has announced its acquisition of over half a billion pounds’ worth of non-performing Northern Rock Asset Management unsecured personal loan assets.

 


The sale is based on the February 2013 portfolio position, and the legal transfer of the accounts is due to be completed within six months.

 

Marlin has negotiated and purchased more than 90 portfolios since its inception in 2002, at a total value of around £2 billion.

 

But at a value of over £530 million, this latest transaction is among the largest in the firm’s 11-year history.

 

It also represents an acceleration in activity for Marlin since April 2010, when mid-market private equity group Duke Street acquired a controlling stake in the company.

 

Marlin was able to purchase the assets after being placed in the preferred buyer position by UK Asset Resolution, as part of an open and competitive sales process.

 

“The exceptional way that Marlin cares for both its internal and external customers was fundamental to the judging panel’s decision to place Marlin in top position,” says Marlin CEO Ken Stannard.

 

As one of the leading debt buyers in the UK, Marlin specialises in purchases of non-performing consumer debt with high overall balances.

 

This typically includes personal loans and credit cards, and the company also provides contingent services on debt owners’ behalf, allowing it to establish business relationships that can lead to the purchase of accounts.

Leave a Reply

Your email address will not be published. Required fields are marked *

REQUEST A FREE CALLBACK

Website Designed by Brookstone Creative Ltd.