The CHL mortgage book currently houses over 40,000 accounts valued at over £6bn.
Bob Young, managing director at CHL mortgages, said: “While we have previously managed these loans, boarding them means we are now controlling them on a different system and legal ownership transfers to CHL.
“Despite this prior familiarity, boarding a mortgage book of any size brings its own challenges but our systems and processes have allowed us to do this with the minimum of fuss.
“We are now able to utilise our bespoke mortgage administration system to manage these loans which makes things easier for all concerned.”
Four-fifths of the newly-boarded loans are residential home loans with the remaining 20% made up of buy-to-let mortgages. There is an even split between interest-only and capital repayment loan types and 62% of the loans mature within the next eight years.
Geographically the majority, 58%, of the loans are secured against properties in Northern Ireland with the remaining 42% based in England.
Young added that given the current market focus on arrears management, CHL’s strategic partnership with HML allowed it complete control in the way it oversees its mortgage book.
He said: “With another flat year of lending expected, more and more lenders are likely to concentrate on deleveraging their portfolio and this addition is further proof that we are committed to keeping our book as low risk as possible.”
