View more on these topics

Castle Trust appoints Target as its loan servicer

Castle Trust has appointed Target Group to outsource the loan servicing of its mortgage product.

Target will provide services to support mortgage origination, all post completion loan servicing and portfolio management after Castle Trust launches on 1 October.

The service will be provided from Target’s modern loan and investment servicing operations centre in Newport, South Wales.

Castle Trust’s chief executive officer Sean Oldfield Sean Oldfield, says it is working with a number of service providers to ensure its products are functional, transparent and accessible.

He says: “Castle Trust needed a reputable, flexible and experienced loan servicing partner that could work with us from the early days of our business. Target’s track record as a loan and mortgage software specialist, plus its credible experience in loan servicing, provides Castle Trust with just that.”

Target’s chief executive officer James Snow says partnering with clients at their inception enables the firm to understand the DNA of the business.

He says: “By having our own loan software and process flexibility at the core of Target’s servicing business, it enables us to provide the most agile financial administration services for our clients.”

Recommended

MS Leader: Look to your laurels

After a year-long investigation into the way incentive schemes drive misselling, the FSA came to a conclusion brokers are only too aware of – big direct salesforces are too often failing consumers with a rotten sales culture and fixation with short-term profit.

FOS sees increase in consumers submitting own PPI complaints

The Financial Ombudsman Service last week revealed it had seen a shift away from the use of claims management companies, with half of payment protection insurance complaints referred directly by consumers. The FOS has published its latest complaint data today showing the most complained about firms between 1 January and 30 June this year. It […]

8% rise in home mover loans

The number of loans taken out by home movers rose by 8 per cent compared with June and by 4 per cent on July last year, the latest figures out from the Council of Mortgage Lenders reveal. Home movers were advanced 30,500 loans worth £5.1bn in July, with the increase contributing to a jump in […]

Newsletter

News and expert analysis straight to your inbox

Sign up