Topaz purchased as part of HML strategy for 2015

Topaz purchased as part of HML strategy for 2015

Specialist Mortgage Services, a subsidiary of mortgage administration company HML, has agreed to purchase Topaz Finance Limited from the Royal Bank of Scotland for an undisclosed sum.

Andrew Freeley, managing director of SMS, said: “With the recent improvements in the economy, momentum for trading mortgage portfolios is building quickly.

“Our clients are increasingly looking for a strategic partner who specialises in managing mortgage portfolios to support their acquisition and disposal strategies, to enhance the value of their mortgage assets and to provide the rigour and quality required to manage customers and regulatory risk effectively.”

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SMS said its acquisition is a key part of Computershare’s strategy for HML since buying the company last year.

Topaz is the master servicer for approximately £700m of residential mortgages held in the Uropa Series I and Series II securitisations.

Andrew Jones, chief executive officer of HML, said: “The commitment by Computershare to grow the loan servicing business is significant and the acquisition by SMS of Topaz is an important part of this strategy.

“The growth of SMS is integral to both Computershare and HML’s strategy for 2015 and beyond.”

Background Box

Computershare was founded in 1978 and has 15,000 employees worldwide.

HML has more than 25 years’ experience in third-party financial administration and has around £37bn of assets under management.

Adviser view

Tony Silver, director of London-based White House Mortgages, said: “If you know your areas and can afford to buy portfolios there is money to be made.

“It is not for the faint-hearted and you have got to know what you are doing.”