Skipton Building Society’s £250m mortgage loan portfolio ‘up for sale’

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.


Share this article



Latest Businesses for Sale

Windows & Doors Supply & Installation
UK Wide

Supplies uPVC windows and doors to home and small business owners in the UK. Operates from freehold premises. Excellent potential for continued growth. Our client is offering the business for sale to facilitate their retirement. Offers invited.

Asking Price: Offers Invited
Turnover: £594,000

FREEHOLD


Personalised Print Company (Fast Sale)
South West, UK

Offers are required by 5pm on Friday 24th April 2020. Long established personalised print company with UK wide educational sector clients. Over 30 years in the marketplace. Supply of personalised printed items/merchandise to UK educational organisati...

Asking Price: Offers Invited
Turnover: £815,002

LEASEHOLD


Designer & Manufacturer of Bespoke Carpentry & Joinery Components (Fast Sale)
West Midlands, UK

Interested parties should be in a position to submit initial expressions of interest no later than 5pm on 17 April 2020. A unique opportunity to acquire a well-established designer and manufacturer of bespoke carpentry and joinery components.

Asking Price: Offers Invited
Turnover: £5m+

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Apr
 

Treasury plan to save medium-sized businesses by taking emergency stakes | BUSINESS NEWS

The Treasury is understood to be considering user taxpayer m...

 
07
 
Apr
 

Clarks makes store closures and explores financing opportunities | COMMERCIAL PROPERTY

Footwear retailer Clarks has confirmed that it will close a ...

 
06
 
Apr
 

Cath Kidston set to enter administration | ADMINISTRATION

Clothing, accessories and homeware retailer Cath Kidston has...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources