Homeloan Management Limited has strengthen its savings administration activity by signing a three-year contract with Heritable Bank.
The Heritable contract marks a key development for HML, being the fruits of its merger with Savings Management Ltd, whereby the company is able to provide third party administration services for savings products in addition to its established mortgage processing business.
The account has the potential to bring in over £400m of retail deposit accounts over the three-year period, reflecting the strong growth prospects in this area. HML's mortgage administration business has doubled in size in just over a year.
Heritable Bank, acquired in 2000 by Landsbanki Islands, currently operates in the property lending, fund management and private banking sectors in the UK.