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Rothesay Life buys 860 million pound of equity release loans from UK's 'bad bank'

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Rothesay Life buys 860 million pound of equity release loans from UK's 'bad bank'

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LONDON (Reuters) - Insurer Rothesay Life said on Thursday it had bought a 860 million pounds portfolio of equity release loans from UK Asset Resolution.

The deal will see Rothesay take on around 6,200 mortgages from UKAR, Britain's 'bad bank', set up after the financial crisis to house bad loans from several lenders including Bradford & Bingley.

(Reporting by Simon Jessop; editing by Lawrence White)

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