HML reaches £20bn milestone

Homeloan Management says that it has reached the important milestone of £20bn in mortgages under administration.

This is twice the £10bn figure registered in September 2002 and more than three times the figure in 2000.

The company says that the spectacular increase means that if HML were a lender itself rather than a mortgage servicer, it would rank in the top 10 of mortgage lenders, just behind HSBC at £20.3bn, and ahead of all the UK building societies apart from Nationwide.

Steve Haggerty, managing director of HML, says: “In 14 months, Homeloan Management has doubled its business in terms of the value of mortgages administered and tripled in size in just over two years.

“This is a spectacular performance and a tribute to the excellence of the service provided by HML&#39s team. The cost and efficiency benefits of an outsourced mortgage administration solution are now widely accepted in the industry and HML has clearly established itself as leader in this important market.”

He adds: “HML is now administering loans for over 30 clients from three different locations, Skipton, Padiham and Glasgow.

“HML continues to plan for further business expansion and we are considering various options in terms of acquisition of new premises in cost-effective locations with good recruitment potential, although as yet no decision has been taken as to our chosen location.”