Skipton BS to sell £250m mortgage book
Skipton Building Society is reportedly seeking the sale of a £250m portfolio of mortgage loans issued under the Amber Homeloans brand.
According to Sky News, Skipton has hired investment bankers at Morgan Stanley and the sale process is "already under way".
A Skipton spokesperson declined to comment at the time of writing, stating "we don’t comment on any rumour or speculation about corporate activity".
In August 2016, Skipton announced plans to offer face-to-face financial advice after being granted regulatory approval to integrate Skipton Financial Services Ltd, its wholly owned financial advice subsidiary, into Skipton Building Society.
Skipton, the UK’s fourth largest building society, reported total group profit before tax of £76.8m and gross lending of £1.9bn in its latest half-year results.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
