The deal comes five months after the first transaction between the two lenders, for £100 million, in April 2005.
The latest portfolio sale involves a mixed pool including prime, self-certification, buy-to-let and minor adverse mortgages.
Peter Beaumont, sales & marketing director at Mortgages plc said: “We are delighted to conclude our second deal with Freedom Lending. The fact it comes so soon after our first deal shows how well this relationship has worked on both sides. Acquiring portfolios is a central part of our growth strategy and we will have further announcements in the very near future.”
Freedom Lending managing director, Colin Snowdon, said: “It is great to have completed another deal with Mortgages plc. We look forward to developing our relationship with them and take great pride in the fact we have been able to generate such high quality and desirable portfolios.”
