Yorkshire teams up with Target
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The Target Group has signed a mortgage originations and servicing contract with Yorkshire Building Society.
The Yorkshire currently has an existing buy-to-let book through its merger with Chelsea Building Society and is taking its first steps into new lending in this area of the market.
The society’s measured entry into buy-to-let will be through its intermediary lending arm, Accord Mortgages, and has led to its first outsourcing partnership with Target Group.
Target will provide servicing support from mortgage origination through to account and arrears management, enabling the lender to focus on customer acquisition activities.
Jeremy Law, head of buy-to-let at Yorkshire Building Society, says: “Target have the sector expertise and knowledge to help the Society to fulfil our growth plans in the buy–to-let market.”
James Snow, CEO at Target adds: “Yorkshire Building Society is entering the buy-to-let market place at a very exciting time, as the owner occupier market recedes and the rental sector demand increases. We look forward to helping the Yorkshire realise its full growth potential through the provision of first class mortgage origination and servicing.”
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