HML up for European Outsourcing Association award
The organisation’s interest-only mortgage customer contact review has been shortlisted in the Innovation in Outsourcing category.
The main premise of the review is that early contact of interest-only mortgage customers can flag up to borrowers the need to address any shortfalls in their repayment plans.
Ben Chambers, HML product manager, said: “It’s fantastic news that the EOA Awards judging panel recognises the importance of early contact in regards to interest-only mortgages.
“HML believes that early contact increases the available opportunities for borrowers to clear their mortgage balance.
“The majority of interest-only mortgages will come to term between 2026 and 2032, and our approach advocates tackling the issue now, rather than leaving it too late.
“This will also help lenders satisfy the requirements of the FSA in the MMR.”
The EOA Awards will be held on April 25th in Amsterdam.