Mon, 20 Feb 2017 | BUSINESS SALE
Skipton Building Society has reportedly put a £250 million portfolio of mortgage loans issued under its Amber Homeloans brand up for sale.
According to Sky News, the Skipton, the fourth-largest building society in the UK, has appointed investment bank Morgan Stanley to source potential buyers.
The sale process is “already underway”, it is reported, and largely relates to a non-performing portfolio issued under the Amber brand. Specialist financial investors are thought to be among the interested parties.
The Skipton is one of the UK's biggest financial mutuals, with more than 838,000 customers. In its latest financial results the society 2016 half-year pre-tax profits had risen to £76.8 million, up from £72.1 million in the same period in 2015.
Last July David Cutter, the Skipton’s chief executive, said “economic uncertainty” caused by the result of the EU referendum had made it “more difficult to forecast trading conditions in the short to medium term, in particular any movements in bank base rate and any impact on housing transactions and house prices”.
In August 2016 the mutual, which also owns the estate agency Connells, announced plans to offer face-to-face financial advice after being granted regulatory approval to integrate its wholly-owned financial subsidiary Skipton Financial Services Ltd into Skipton Building Society.
Find financial businesses for sale.
Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...
Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.
Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....
The business and assets of Yorkshire-based display products ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources