It is Infinity's first mortgage portfolio purchase and is just part of the growing market in whole loan sales.
Last year the whole loan trading market continued to grow rapidly and Infinity predicts this trend to continue over the next 12 to 18 months. It is already one of the largest and fastest developing market in Europe.
Matt Gilmour, CEO at Infinity commented: “This portfolio purchase represents another step in the evolution and growth of Infinity Mortgage’s lending programme and demonstrates our commitment to the UK market. The flexibility of our funding relationship with Investec gives the strength to react with speed to such developments and opportunities. I predict the whole loan sale market to grow 50 per cent by 2008.”
Mark Smitheringale, associate director asset trading at Amber Homeloans Ltd, said: “We are delighted to have completed this residential mortgage portfolio sale to Infinity in support of their UK lending programme for 2006. This creates an exciting and important new relationship for Amber and we look forward to enhancing this partnership over the longer term.
"This transaction represents the second significant transfer of assets by Amber already this year and further reinforces the fundamental part that asset trading plays within our corporate strategy.”
The mortgage assets in the portfolio are all secured on UK residential properties and is a spread of prime and sub-prime mortgages.
