Target expands with new Chester special servicing centre and boosts mortgage operations

11 September 2012

Target Group has expanded its loan and investment third party servicing operation with a major expansion in Chester. This new operation now employs over 130 staff, the result of a TUPE transfer as well as additional management recruitment. Target now employs over 600 people across its offices.

“Target’s new loan servicing centre in Chester adds both capacity and resilience to our existing operations in South Wales. This is a cornerstone of our strategic plan to grow operations and expand our existing first mortgage servicing capacity” commented Neil Andrews, Chief Operating Officer – Servicing for Target Group. “Target’s objective is to efficiently grow its operations through the smart application of technology, process efficiency and the development of a highly skilled team” he added.

The operation will initially provide primary and special servicing for a major first mortgage portfolio, one of Target’s most ambitious projects to date which went live on time and on budget last week as planned. Client confidentiality prevents any further comment on this service or client. Additional multi-client outsourced loan operations will be run from the Chester site in the future, and further jobs will be created.

25% of the world’s top 20 international banks choose Target for loan and mortgage software and third party servicing. Target is rated as ‘Above Average’ by S&P for primary residential mortgage servicing and primary consumer finance in the UK.

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