Third-party outsourcing firm and Skipton subsidiary Homeloan Management now has £20bn in mortgages under administration – twice the amount it recorded 14 months ago and more than three times the £6.62m it re-corded in 2000.
The increase means that if HML was a lender and not a servicer it would rank alongside the top 10 mortgage lenders in the UK, just behind HSBC at £20.3bn and ahead of all the UK's building societies apart from Nationwide.
Steve Haggerty, managing director of HML, says: “This is a spectacular performance and a tribute to the excellence of the service provided by our 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.
“We are 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 the preferred location.”
Rating agency Fitch recently upgraded HML's residential primary servicer rating to RPS2+ (prime) and RPS2+ (sub-prime), positioning HML as the highest rated residential primary servicer in Europe.
|2. Abbey National||£80.1bn|
|3. Lloyds TSB||£62.5bn|
|6. Royal Bank of Scotland||£42.1bn|
|7. Northern Rock||£30bn|
|8. Alliance & Leicester||£23.6bn|
|9. HSBC Bank||£20.3bn|
|10. Bradford & Bingley||£16.8bn|