HML, the financial outsourcing provider, has announced an extension of its servicing and administration contract with Bradford & Bingley (B&B), the nationalised mortgage lender.
The two organisations have worked together since 1999 and HML currently manages approximately 60,000 customer accounts for B&B, amounting to over £8.5 billion of mortgage loans. HML's contract has now been extended to 2012.
Brian Brodie, Chief Executive at HML, says: "We have worked with B&B for many years and the two organisations have become significant strategic partners. Obviously we are delighted to have agreed an extension to our contract and feel this reflects positively on the way we have adapted and developed our relationship. Supporting B&B through its nationalisation and aligning our proposition with its revised strategic objectives have been key successes for HML in the last two years."
Richard Banks, Managing Director at Bradford & Bingley, says: "We have worked with HML for a number of years and HML has proven to be a highly valued partner. We look forward to continuing to work with them in the months and years ahead as we restructure the business to achieve our shareholder's objectives."