This is the first transaction between these two organisations and was brokered by Mutual One.
Amber’s Associate Director of Asset Trading, Mark Smitheringale, commented “We are delighted to have established this new relationship with the Scottish and look forward to continuing to strengthen our relationship with them in the future through further sales.
“So far this year, Amber has been involved in the transfer of £640 million of mortgage assets, comprising a mixture of sales and acquisitions. Asset trading continues to be an integral part of our business strategy.”
Head of mortgage lending at Scottish, Jim Dunn said: “We are very pleased to develop our mortgage base in Scotland with this transaction and similarly look forward to working further with Amber in the future.“
The mortgage book transaction has been handled by Balfour Manson on behalf of the Scottish, and by Pinsent Masons on behalf of Amber.
