Capital Home Loans and Phoebus Software have agreed a 5-year contract for the implementation of the Phoebus loan servicing solution.
The deal will involve an initial migration of around £4.2bn of mortgage assets from Computershare Loan Services’ UNISYS platform.
Phoebus will be able to automate many tasks previously done manually.
Richard Pike, Phoebus’s sales and marketing director, said: “CHL is a very successful business with strong aspirations for future growth.
“The engagement between our businesses has been excellent during the requirements gathering stage and this will lead to a very successful implementation in 2018 of a servicing solution that will drive the efficiencies expected from what is generally seen today to be the market’s leading loan servicing platform.
“We very much look forward to working with CHL for many years to come.”
Lee Kelly, chief executive of Capital Home Loans, said: “PSL’s reputation is excellent and the Phoebus servicing module is recognised for providing operational efficiencies.
“Certainly, the engagement to date indicates this will be the case moving forward and we look forward to a strong and lengthy relationship with PSL.”
Capital Home Loans, or CHL, is a specialist buy-to-let lender based in Fleet, Hampshire, which was established in 1987.
It ceased lending due to the global financial crisis in 2008 and focused on servicing its mortgage loans.