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.
This well-established scrap vehicle yard in Essex offers a unique opportunity to acquire a business with a significant stock of decommissioned parts and panels, alongside essential equipment such as forklifts and heavy demolition plant.
Opportunity to acquire a well-established engineering product and equipment distributor located in the heart of the West Midlands.
Presenting an exceptional opportunity to acquire a well-established specialist joinery business located in Southport, Merseyside.
01
|
Jul
|
PE-backed accountancy swoops for 65-strong East Midlands firm | BUSINESS SALE
Private equity-backed accountancy Duncan & Toplis has acquir...
01
|
Jul
|
Manchester-based aerospace firm rescued with pre-pack deal | BUSINESS SALE
B&H.PT Limited, a Manchester-based aerospace manufacturer, h...
01
|
Jul
|
Seafood and pork supplier acquires food manufacturing business | BUSINESS SALE
Sofina Foods Europe, a North Yorkshire-headquartered supplie...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.