Amber sells mortgage portfolio to Reliance

Amanda Jarvis

October 21, 2004

Amber is a mortgage lender operating in all areas of lending. The areas covered are Prime, Adverse, Self Certification, 100% Loan to Value, and Buy to Let. Amber also sell and purchase mortgage portfolios to and from other lenders, and its management team has gained experience in this area over the last few years, with the number of sales now approaching 20.

This portfolio sale will allow Reliance Property Loans to further develop its mix of lending business. Borrowers will not see any change to the terms and conditions of their mortgage.

Gordon Jolly, managing director of Amber Homeloans Limited, said, “The sale of small to medium-sized portfolios, similar to this, is an integral part of Amber’s strategy as a creator and trader of mortgage assets and this deal is part of a busy programme of sales in 2004. This is the first time Amber has completed a transaction with RPL, and we hope to build a strong relationship & partner for future transactions. Due to our ongoing success in originating new mortgages, we now have assets available for sales in early 2005.”

Skipton born, Rob Procter, Managing Director of Reliance Property Loans and Deputy Chief Executive of Kent Reliance Building Society, added “It has been a pleasure to work with Amber on this purchase and we look forward to further co-operation in the future. Like Amber, Reliance Property Loans is committed to offering first-rate mortgage products, backed by the highest standards of customer service”.

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