Sainsbury’s Bank says it has made good progress with its mortgage proposition development and is in the process of designing a suite of mortgages that “best meet the needs of the Sainsbury’s customer” that will be available through intermediaries.
Computershare Loan Services will provide both origination and post-completion services for Sainsbury’s Bank, and the contract represents the first time it has supported the origination of loans on behalf of a non-specialist lender.
Andrew Jones, Chief Executive Officer at Computershare Loan Services, said: “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 Loan Services’ contract will see it help Sainsbury’s Bank to grow its book of mortgages through origination services until at least 2022.
Computershare Loan Services administers more than half of all outsourced mortgages in the UK having been appointed by the Government to service loans for UK Asset Resolution in June.