Investing in specialist mortgages and reversionary interests linked to residential properties focused on delivering positive risk-adjusted returns plus upside linked to the UK housing market.
We acquire and asset manage the financial interests that are due from a home reversion portfolio as well as a large number of specialist mortgage portfolios from many of the UK’s leading housebuilders, including Barratt and Bellway. We have assisted with the purchase of over 15,000 loans with an initial face value in excess of £500 million.
With our proven success in sourcing, underwriting, structuring and monitoring real estate investments, we aim to bridge the gap between external investors, and house builders who need working capital to achieve their house building objectives.
We leverage our acquisition and asset management capabilities using HMS, our affiliated, FCA authorised asset servicing platform. It was founded on the philosophy that the unique combination of features that these loans have (no/low interest bearing, long dated, secured) require a specialist, proactive management approach. HMS is mandated to service loans acquired by us on behalf of third-party owned specialist mortgage portfolios. Compliance with regulatory requirements is at the heart of its operations, providing a high level of comfort to portfolio vendors, who may not have the in-house resource, expertise, regulatory authorisations or appetite to manage these loans optimally themselves. For more information on HMS please click here.
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Acquisition of a shared equity mortgage portfolio for £21.9m. All the interest-bearing loans were originated by Bovis Homes, one of the UK’s leading housebuilders and are collateralised by homes distributed across the country.
Acquisition of shared equity loans from Barratt Developments PLC for £82.9m. The portfolio comprises loans originated by Barratt as well as those loans jointly originated under the UK Government’s FirstBuy and HomeBuy Direct shared equity programmes.
Acquisition of synthetic interest in residential life tenancy portfolio. The collateral comprises 1,092 residential reversionary interests located in the UK. The counterparty to the SWAP contract is a major UK life insurance company.