Sainsbury’s Bank has continued to make progress on its launch into the mortgage lending market by recruiting HML to look after the loan book servicing, Mortgage Solutions understands.
Sources have confirmed that HML has won the contract to deal with Sainsbury’s mortgage servicing post-completion.
The bank is also considering the outsourcing of the origination of its mortgages.
Tim Hague, the former managing director of BM Solutions between 2005 and 2008, is believed to have been employed by the lender on a consultancy basis. Mortgage Solutions reported in April that Colin Snowdon had been hired to assist Sainsbury’s on a short-term basis.
A spokeswoman for the bank said: “We are constantly looking at ways to enhance our service, operations and products; offering mortgages is one of a number of options that we are investigating.”
HML declined to comment.
