The sale of the mortgage servicing business assets of Capita plc entity Western Mortgage Services Limited (WMSL) to Topaz Finance Limited (the Buyer) has completed, and the staff and office of the WMSL mortgage servicing business have transferred to the Buyer.
The WMSL mortgage servicing activity is a complete outsourced mortgage administration service to providers of residential and buy-to-let mortgages, regulated by the UK Financial Conduct Authority. The business currently provides post-completion mortgage servicing and arrears management for several Special Purpose Vehicle (SPV) books.
The sale of the WMSL mortgage servicing business assets is part of Capita's “manage for value” strategy, which is focused on developing core capabilities and exiting non-core businesses. The WMSL mortgage servicing business was a non-core loss-making business in 2024 (2024 revenue £5.6m), so it was decided to seek a buyer that is better able to develop the business, helping it reach its full potential.
Owned by Computershare, a global leader in financial services administration, Topaz Finance Limited is an experienced, UK-based mortgage administrator supporting homeowners and buy-to-let landlords. Topaz Finance Limited has been operating since 2006 and is regulated by the Financial Conduct Authority.
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