PMM Advisers’ funds becomes largest third party owners of shared equity mortgages in the UK
PMM Advisers LLP (“PMMA”), a specialist real estate asset manager, announces that funds managed by it have acquired a portfolio of shared equity loans from Barratt Developments PLC for a consideration of £82.9m.
Following this transaction, funds managed by PMMA’s funds are the largest owners of shared equity mortgages in the UK, with more than 11,000 loans under management with an initial face value in excess of £280m. Since 2012 PMMA has acquired more than 20 home builder loan portfolios, including the portfolios of three national housebuilders.
PMMA has mandated Hampton Mortgage Servicing to provide loan administration services to its funds.
PMMA’s Michael Weston commented “the acquisition of the Barratt portfolio marks a significant milestone. The transaction makes us the largest third party owner of shared equity mortgages and underscores our market leading position in this sector. We are in negotiations to buy further loan portfolios and expect to move into other related asset classes in near future.”
About PMM Advisers
PMMA was formed in 2007 to provide asset management services to specialist real estate funds. PMMA is regulated by the FCA. Its sister company PMM Partners Ltd is investment advisor to Phoenix Spree Deutschland, a German residential fund listed on the London Stock Exchange.
About Hampton Mortgage Servicing
Hampton Mortgage Servicing is a specialist loan servicing company established to provide administration services to owners of shared equity mortgages and other mortgage assets. It is the largest third party shared equity loan servicing company in the UK.
For further information please contact:
PMM Advisers LLP
+44 (0) 20 7292 7153