Case Studies
New Lender
Launching a new lender into the UK mortgage market
When a major global financial institution decided to enter the UK mortgage market, it wanted to see rapid and innovative growth.
At the height of the mortgage market boom HML was approached by one of the biggest names in the global financial industry to assist with the launch of a UK lending arm. The firm had acquired a front-end lending platform, had substantial funding in place and was looking for a servicing partner to manage the post completion administration of its loans.
Following a period of initial discussions and planning the new lender launched within four months of contracts being signed with HML. The new lender went to market with an aggressively priced product range spanning mortgages, secured loans and unsecured loans. It quickly began to build a substantial portfolio and within six months it had lent in excess of £1 billion - all of which was boarded onto HML’s servicing platform.
Keen to acquire additional assets without originating them itself, the lender approached HML again to assist with a number of asset purchases. This involved us boarding mortgage books from other servicing platforms, an area of expertise for HML, having completed 90 asset transfers in recent years with a 100% success rate. Assets were also purchased from other HML clients, which needed to be transferred across the HML servicing platform to the new lender.
Within a year of launch the new lender had completed its first securitisation, an achievement which capped off a highly successful first 12 months of trading in partnership with HML.
