Freedom Lending has completed a £20m portfolio sale to Crocus Homeloans, a subsidiary of the Saffron.
The portfolio comprises a mix of self-cert, buy-to-let and Freedom’s on-track credit repair mortgages.
Richard Spinks, director of risk at Freedom, says: “We’re delighted to have completed this portfolio sale with Saffron.
“We are also keen to identify additional potential buyers who would be interested in purchasing portfolios of this type.”
Jon Hall, finance director at Saffron, adds: “The purchase of this mortgage portfolio forms an important part of Saffron’s plans to grow its asset base through integrating society origination with an on-going flow of mortgage assets sourced from a small number of lender partners.
“We are always interested to hear about suitable high quality portfolio’s, such as this one purchased from Freedom Lending.”