Skipton BS to sell £250m mortgage book

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.

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