Phoebus Software signs servicing contract with Lendco


Lendco’s existing book of buy-to-let, bridging and refurbishment loans will be migrated onto the Phoebus platform in Q1 2022

Phoebus Software Limited (PSL) and Lendco have signed a four-year contract which will see the specialist lender onboard all new mortgage completions onto the latest Phoebus digital account servicing platform.

Lendco’s existing book of buy-to-let (BTL), bridging and refurbishment loans will be migrated onto the Phoebus platform in the first quarter of 2022.

The Phoebus solution was delivered into user acceptance testing (UAT) within three months of Lendco signing off its requirements.

The solution went live in December 2021, encompassing all Lendco’s primary and special servicing requirements and facilitating its securitisation needs.

Phoebus originates and services many different types of lending and savings products across the UK and Ireland.

Richard Pike, sales and marketing director at PSL, said: Lendco is an innovative lender which we are very pleased to bring into our client user group.

The speed and quality of the implementation is testimony to the investment we have made into both our implementation methodologies and also our digital technology and automation, he said.

This deal reinforces our position as the market leading account servicing supplier in the UK and Ireland, and we very much look forward to working with Lendco for many years to come, he said.

Ian Ferguson, operations director at Lendco, added: PSL is a strong brand and their technology is an exceptionally good fit for specialist lenders such as ourselves that wish to undertake servicing in-house.

The interaction with PSL from start to finish has been first class and they are a company that delivers to their commitments, he said.

He said: We look forward to working with them in partnership to achieve mutual success for both parties.

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