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NATWEST MARKETS TO BUY HOUSING CORPS LOAN PORTFOLIOS

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Housing minister David Curry has announced that NatWest Markets is the preferred bidder for the loan portfolios hel...
Housing minister David Curry has announced that NatWest Markets is the preferred bidder for the loan portfolios held by the Housing Corporation.

In a written answer to a parliamentary question from John Sykes MP (Scarborough) , Mr Curry said: 'My rt hon friend the secretary of state for the environment announced on 31 October 1996 the Government's decision in principle to sell the loans provided to housing associations by the Housing Corporation and Housing for Wales, subject to receiving satisfactory final bids from the private sector for the portfolios.

'My rt hon friend the secretary of state for Wales and I are happy to announce that following further negotiations we have chosen NatWest Markets as the preferred bidder for both the English and the Welsh Portfolios.

'NatWest is one of the leading private lenders to housing associations, with a strong track record in this area.

'Once we have completed the final negotiations on the sale, I expect a successful transfer of these loans into the private sector, and a positive ongoing relationship between housing associations and their new lender.

'The negotiations on the sale are due to be concluded over the next few weeks and the sale completed around Easter.'

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