A SUBSIDIARY of Skipton-based mortgage administration company HML, has agreed to buy Topaz Finance from the Royal Bank of Scotland (RBS) for an undisclosed sum, subject to regulatory approval.

Specialist Mortgage Services, SMS managing director, Andrew Freeley, 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.

“The acquisition of Topaz supports our strategy, giving us further scale and enhanced capability in mortgage portfolio management.

“With HML being the clear market leader, in mortgage servicing, the ability to deliver the most advanced end-to-end mortgage management solution in the market sets us apart from our competitors.”