Stroud & Swindon Building Society has released details of a recent mortgage book purchase to dispel media speculation the Society had bought up to £500m worth of mortgages.
Stroud & Swindon says it purchased a mortgage book from specialist lender edeus but has no obligation to buy more. David Hill, chief executive of Stroud & Swindon, comments: “Stroud & Swindon Building Society recently purchased a mortgage book worth £60m from specialist lender edeus. Whilst future trades are envisaged, there is no contractual obligation on either party in this respect.” He says the deal is an ordinary part of the Society’s policy and says press reports that Stroud & Swindon had purchased a large and irresponsible sum were incorrect. Hill adds: “We have been conducting w...
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