View more on these topics

High Fitch ratings for Homeloan Management

International rating agency Fitch has awarded Homeloan Management residential loan servicer ratings of RPS2+(Prime)UK and RPS2+(Sub-Prime)UK, the highest it awards to any servicer in Europe.

The review was conducted by Fitch following a period of remarkable growth and change at HML, which resulted in assets more than doubling from just over £11bn at the beginning of 2003 to £24bn today, and the acquisition of new business premises in Padiham, Lancashire and Londonderry, Northern Ireland.

Fitch says: “The company demonstrated its ability to maintain effective control over expansion without disrupting existing business.”

The rating agency also highlights HML&#39s further ambitious growth targets, with the aim of £65bn under management by end 2006 and notes HML&#39s “long experience of boarding portfolios which puts it in a strong position to manage this growth.”

Steve Haggerty, managing director of HML, says: “HML&#39s expansion has been exceptional over the past 18 months and Fitch has rightly analysed how we have coped with this huge growth in the scale of our business. This necessitated acquiring two new offices, in Lancashire and in Northern Ireland, to accommodate 550 new staff recruited over the past year. We&#39ve also been progressively upgrading our systems to pave the way for our planned future growth. ”


Aspiring homeowners say government not doing enough

FirstRungNow Ltd has undertaken a survey to gauge the thoughts of potential first-time buyers stuck in the rental trap. Of those surveyed, 81% said they would prefer to be homeowners and 94% said they believed the government is not doing enough to help. There is a lack of optimism for the future too. When asked […]

FSA issues letters to network applicants

The FSA has this week started issuing letters to applicants wishing to operate a network with a mortgage or general insurance permission – both new firms (where a minded to authorise letter is issued); and existing authorised firms (where the letter states that the FSA isminded to vary their permission). The timing of any letter […]

Pink simplifies 24-hour broker commission payment service

Pink Home Loans is simplifying its 24-hour payment of broker commission service, which pays commission fees within 24 hours of legal completion. Pink customers will no longer be required to send the 24-hour payment form to the solicitor for confirmation that the case has completed. Instead, the intermediary can now complete the form to indicate […]

Savills founder to launch Purely Mortgages later in year

Mark Chilton, the founder of Savills Private Finance, has unveiled the brand name of the national mortgage broker he is to launch later this year – Purely Mortgages The company is aiming to take a significant share of the UK mortgage market within five years. Chief executive Chilton says he has assembled a director team […]


News and expert analysis straight to your inbox

Sign up