Skipton Building Society announces mortgage portfolio sale

10th April 2017
Skipton Building Society has announced the sale of its Amber Homeloans Limited and North Yorkshire Limited mortgage portfolio to an affiliate of a fund managed by a global investment management firm.

The portfolio is estimated be worth £220 million and consists of 1,600 UK mortgages The transaction is due to complete by the end of Apri.

Skipton Group chief executive David Cutter says: “This is a good transaction for our members as it strengthens an already strong balance sheet and allows us to focus on our core target market.”