Homeloan Management Ltd (HML), a UK provider of outsourced mortgage administration services to banks and lenders, is creating 425 new jobs in Glasgow to meet increasing demand for its services.
HML, which is part of the UK's Skipton Building Society group, already employs 75 people in the city.
The company supplies a range of services, including applications processing and post-completion administration for mortgage and loan related products, as well as data analysis and systems consultancy. The firm will relocate to the Skypark business complex in Glasgow to accommodate its expansion.
HML will receive a £1.6 million regional assistance grant for the expansion of its Glasgow operations from Scotland's governing body, the Scottish Executive.
Damian Stansfield, operations director, HML, says: "The help and support we have received from Scottish Enterprise has really endorsed our decision to expand our presence here."
HML is the latest in a number of financial services firms to receive assistance grants to set up or expand operations in Scotland. Just last month Morgan Stanley received £6 million to expand its institutional securities and global wealth management (GWM) support services unit in Glasgow.
In June French banking group BNP Paribas said it had received a £3.7 million grant to expand its operations in Glasgow and Dundee. Last November US investment bank JPMorgan received £3 million and payments processor First Data got £2.3 million from The Scottish Executive to develop operations in Glasgow.