The Bank initially aims to focus on international customers looking to purchase a property in England
Jordan International Bank is preparing to launch a first charge residential and BTL mortgage offering in the UK.
The Bank is regulated by the FCA and PRA to carry out regulated home finance lending in the UK and initially aims to focus on international customers intending to buy a property in England and Wales through its private banking arm.
The Bank will consider financing first charge residential mortgages, with loans ranging £150,000 and £8 million, for owner occupation as well as buy-to-let (BTL) investments.
Jordan International has appointed BEP Systems, the mortgage origination software house, to provide system solutions for its new mortgage and BTL lending platform.
Hichem Turki, head of private banking at Jordan International Bank, commented: We were very impressed with the credentials of BEP Systems as they work with other established UK mortgage and buy-to-let lenders. Their knowledge and understanding of the business requirements for our new and innovative range of products as well as the product flexibility to tailor our regulated lending offerings to meet our customer needs were excellent.
Chris Little, managing director of BEP Systems, added: I‘m delighted to have worked with an established UK bank developing new products and services for its international client base. Our Apprivo2 platform has been customised to suit the challenging requirements of the new products to be offered by JIB. We believe Apprivo2 is one of the fastest growing systems in the UK serving specialist finance lenders and continues to provide cutting edge software solutions.
He said, we have also managed to contract and commence delivery of this project during the Covid-19 lockdowns with staff working remotely, demonstrating the flexibility of our staff at being able to continue to operate at full capacity to support our existing customers whilst continuing to work on new projects.