HML has signed a 5 year servicing contract with Stonehaven Equity Release UK to service its equity release products originated through its intermediary channel.
HML will administer these products once received from the intermediary.
Stonehaven, has ambitious plans to grow its portfolio and HML will undertake its customary role in facilitating subsequent portfolio sales and securitisation transactions as appropriate.
HML development director Paul Fenn says: “We are delighted to welcome Stonehaven as a new client to HML. The partnership with Stonehaven provides further evidence of HML’s expertise in handling equity release products, complementing our well-established service offering in the UK and Irish mortgage markets.”
Stonehaven chie operations director Rob Avery says: “In launching our new equity release products we were able to come to market more quickly and more efficiently by working with HML. Their expertise and reputation impressed us and we are very pleased to be working with the acknowledged leader in the field.”