Specialist real estate asset manager PMM Advisers has bought a portfolio of shared equity loans from Barratt Developments for £82.9m.
The acquisition, made on behalf of funds under PMM’s management, makes it the largest third-party owner of shared equity mortgages in the UK.
PMMA partner Michael Weston said: “We are in negotiations to buy further loan portfolios and expect to move into other related asset classes in near future.”
Since 2012 PMMA has acquired more than 20 homebuilder loan portfolios, including those of three national housebuilders.
It has more than 11,000 loans under management with an initial face value in excess of £280m.
PMMA has mandated Hampton Mortgage Servicing to provide loan administration services to its funds.
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