Mortgages PLC has signed a new contract for post completion servicing, following the purchase of £100 million of mortgage assets in the secondary market.
HML’s managing director Steve Haggerty says: “We are delighted to welcome Mortgages PLC back as a client of HML. Our flexible servicing arrangements work well with Mortgages PLC’s business model of acquisition and origination. On top of that, we have maintained a strong relationship with them over the past few years and we look forward to building on that in a tangible way in the future.”
Tim Cooley, chief financial officer of Mortgages PLC, comments: “We know HML very well from the past and know from experience that they can meet or exceed the high standards we set for mortgage processing in-house. In fact, we’re more than happy to entrust administration of these newly acquired portfolios to HML and, now that Mortgages PLC is backed by Merrill Lynch, look forward to continuing to grow our mortgage portfolios, with HML’s highly professional support.”
Steve Haggerty concludes: “2005 has started well, and we’re making good progress towards the ambitious growth targets we have set ourselves for the next couple of years. We expect to welcome further blue-chip clients such as Mortgages PLC in the coming months.”
