The wholly owned subsidiary of WestLB has already acquired more than £1.3 billion of UK residential mortgages through five portfolio acquisitions over the last year. It has lined up a number of additional brokers to work with, the names of which will be confirmed in due course.
It is now launching its own range of products, solely through its relationship with key selected intermediary partners.
The wholly owned subsidiary of WestLB has already acquired more than £1.3 billion of UK residential mortgages through five portfolio acquisitions over the last year. It has lined up a number of additional brokers to work with, the names of which will be confirmed in due course.
Basinghall has partnered with Home Funding Ltd, which will handle the management of its UK retail business. Its front-end and back-end operations have been outsourced to Scarborough Building Society’s third party administrator, SMS.
Commenting, a spokesperson for Basinghall, said: “We strongly believe there is significant potential in the UK market for our unique proposition that takes advantage of economies of scale and removes inefficiences that exist in other lender models.”
Tony Ward, chief executive of Home Funding Ltd, said: “With its two-pronged strategy of portfolio acquisitions and partnerships, Basinghall has already secured more than a £1 billion of mortgage portfolio acquisitions and is now kicking off a series of partnership deals to offer niche and competitive products to their customers.”
