UK Mortgages Limited has announced that terms have been agreed, and signed, for the purchase of an existing pool of mortgages, which, if completed, will be UKML’s third transaction and will deploy its remaining investible capital. The company says that it expects the transaction will be completed early in 2017, following the finalisation of certain pre-acquisition diligence, documentation and financing arrangements. The company says that more details will be made available once the transaction has completed, but it says that its expectation is that this transaction will generate a gross IRR in excess of 8% from the date of purchase.
About UK Mortgages
UK Mortgages Limited aims to provide Shareholders with access to stable income returns through the application of relatively conservative levels of leverage to portfolios of UK mortgages. The Company expects that income will constitute the vast majority of the return to Shareholders and that the return to Shareholders will have a relatively low volatility and demonstrate a low level of correlation with broader markets. The Company will target a net total return on the Issue Price of between 7 and 10% a year, once the Company is fully invested.
UK Mortgages expecting gross IRR greater than 8% for third transaction : UKML