As announced in March 2017, Bradford & Bingley plc (part of UK Asset Resolution Limited), sold two separate asset portfolios comprising performing buy to let loans to Prudential plc and to funds managed by Blackstone.
The final stage of this transaction is now complete and the legal title to the loans included in the sale has transferred to Topaz Finance Ltd, an FCA regulated firm, who will manage the loans under the brands of Jasper Mortgages and Rosinca Mortgages.
All customers affected by the transaction are being contacted to update them on the change of ownership. A key consideration for this sale was the continued fair treatment of customers and there will be no changes to the terms and conditions of the loans as a result of this transaction.
Notes to Editors
- Approximately 104,000 loans originated by Bradford & Bingley and Mortgage Express were included in the sale.
- Prudential plc and funds managed by Blackstone own the beneficial interest in the loans and have separately appointed Topaz Finance Limited to act as the legal title holder and master servicer.
Jonathan Glass / Nick Cosgrove
Tel: +44 20 7404 5959