Amber sells £102 million mortgage portfolio to Oakwood Homeloans Ltd

The portfolio was made up of prime, self-certification and sub-prime loans and is the first acquisition made by Oakwood who will look to make further acquisitions in the near future.

Amber was advised in the transaction by Pinsents Masons (Leeds Office) and Oakwood was advised by Addleshaw Goddard (Leeds Office).

Gordon Jolly, Managing Director of Amber, said, “We are delighted to partner Oakwood in their first ever portfolio transaction and hope to work with them again in the near future. The sale of residential mortgage assets continues to be an integral part of Amber’s strategy in this expanding market.”

Michael Culhane, Chief Executive of Oakwood, commented, “This has been a very exciting and important transaction for Oakwood. Not only is it our first acquisition, but it also builds upon our strategy of strengthening our presence in the UK mortgage market. We have enjoyed working closely with Amber and look forward to completing more transactions with them in the near future.”