The government is set to agree to sell some £450m of Northern Rock loans to American private equity firm JC Flowers.
The deal will be for unsecured loans made by Northern Rock which are now held by UK Asset Resolution. Around half of its total loan book will transfer to JC Flowers.
JC Flowers had been in the running to buy all of Northern Rock after it collapsed in 2007, but the government halted negotiations and nationalised it shortly afterwards, saying it would be better for taxpayers.
Reports suggest JC Flowers will pay about £300m for £450m of loans through its regional lending arm, One Savings Bank.
