Sainsbury’s Bank has moved another step closer to its mortgage product launch in the first half of 2017 and appointed Computershare Loan Services to provide it with mortgage administration services until at least 2022.
Peter Griffiths, chief executive, Sainsbury’s Bank, said: “We are designing a range of mortgage products especially for the Sainsbury’s customer. Computershare demonstrated a real understanding of our business and values, enabling us to be certain that together we can best serve our customers’ needs.”
Andrew Jones, chief executive at Computershare Loan Services, added: “Sainsbury’s is an all-star household name and its decision to provide mortgages is a significant industry development. We’re very proud to have been chosen to provide an end-to-end service for what will become a significant book of mortgages as a result of our decades of experience, advanced expertise, innovation and reliability.”
Computershare, the UK’s largest third-party servicer, will provide origination and post-completion services for Sainsbury’s Bank’s new book of mortgages when they are launched next year.
Computershare Loan Services includes Homeloan Management Limited (HML); the UK’s highest-rated third party mortgage servicer, which was acquired by Computershare in November 2014.
It’s the first time it has supported the origination of loans on behalf of a non-specialist lender.