The portfolio included a mixture of assets originated by Amber, including prime, self-certification, and sub-prime mortgage loans.
In a separate transaction in September 2004 Amber sold a £65 million mortgage portfolio to Future Mortgages.
Amber’s Managing Director, Gordon Jolly, commented: “We are delighted to continue to build upon our strong relationship with Future Mortgages, based on the regular sale of mortgage assets. Amber has so far been involved in the transfer of £354 million of mortgage portfolio assets this year, comprising a mixture of sales and purchases."
Mark Charlesworth, Head of Future Mortgages, said: “We are pleased that the purchase was concluded in a professional manner and that our relationship with Amber continues to develop. The acquisition of quality portfolios is a key part of our growth plans for the business.”
The mortgage book transaction has been handled by Allen and Overy LLP on behalf of Future, and by Pinsent Masons on behalf of Amber.
