Computershare has won a contract with new mortgage provider Vida Homeloans to service its assets.
Computershare, which services mortgages from its offices in Skipton and Crossflats, has won a seven-year contract to provide full third-party servicing for all Vida Homeloans mortgages, including payments, finance, arrears management, business intelligence, finance and compliance.
Andrew Jones, CEO at Computershare Loan Services, said: “Our new relationship with Vida Homeloans demonstrates that as well as being the UK’s largest third-party mortgage servicer, we are also the go-to administrator for new companies and more established lenders.”
Vida Homeloans is a new company employing around 75 people led by a senior team with a number of years’ experience in mortgage provision and specialises in residential and buy-to- let mortgages.
Lesley Sewell, chief operating officer at Vida Homeloans, said: “We are building a proposition that challenges the status quo, using the latest technology and processes to
enable our people to deliver the highest standards of customer service.
“Computershare is a good choice for us as the established UK expert in servicing residential and buy-to- let mortgages, particularly as it is rated as the UK’s leading third-party mortgage servicer by ratings agency Standard and Poor.”
Vida Homeloans said it has developed a wide range of mortgage solutions for the intermediary market by focusing on customers who are currently underserved by mainstream UK lenders.
Vida Homeloans will operate as an intermediary-only provider, meaning their loans will only be available through brokers, networks and packagers.
Vida Homeloans’ assets will be administered by Computershare’s subsidiary HML, which is one of only four companies in the world awarded the top rating as a primary
residential mortgage servicer by ratings agency, Fitch.
Earlier this year, Computershare was appointed by the UK Government to service mortgages for UK Asset Resolution (UKAR).
The company currently services over £71bn of mortgages and loans, which represents over half of the outsourced mortgages in the UK.