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Ipswich buys portfolio of mortgages from SPML

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  • 17/06/2003
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Ipswich Building Society has bought a £30m portfolio of mortgages from lender Southern Pacific Mortg...

Ipswich Building Society has bought a £30m portfolio of mortgages from lender Southern Pacific Mortgage Limited (SPMC). Ipswich’s strategy to purchase books of business allows it to strengthen its overall portfolio in certain areas. Paul Winter, sales and marketing director at Ipswich, said: ‘Buying loan portfolios is a cost-effective way to take us into new areas and generate business. The returns on acquisitions can be significantly more than on other lending.’


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