North Staffordshire building society the Hanley Economic has expanded with the acquisition of a £22 million mortgage book from Amber Homeloans, part of the Skipton group.
The purchase, the largest undertaken by the Hanley in its 1300-year history, was made through its Hanley Mortgage Services subsidiary and follows an £ 18 million acquisition from Amber in 2003.
Alan Hagan, head of lending at the Hanley, said the purchase would expand its customer base.
"While much of our activity is focused on our North Staffordshire heartland, the purchase of these mortgage assets adds a pool of new customers from across the country to whom the Hanley's products and services can be offered."
Gordon Jolly, managing director of Amber Homeloans, said: "The Hanley and Amber have developed a strong relationship and we look forward to working together again in the near future."