Lenvi will partner with Homes England on five-year deal supporting Help to Buy customers.
Following a competitive tender process Lenvi, formerly EQ Credit Services, part of Equiniti, has been awarded a five-year contract to handle the equity loan administration and servicing of the Help to Buy scheme on behalf of Homes England.
The partnership will require Lenvi to manage the programme on behalf of the UK Government through its technology platform, outsource operation and expertise, the combination of which is a key differentiator in the market.
Since its launch in 2013, the Help to Buy scheme has loaned £20.1bn to customers and enabled the purchase of 328,506 homes with a Help to Buy Equity Loan, the vast majority of which are first time buyers.
Lenvi is the UK’s largest consumer loan platform provider with over 30 years’ experience delivering critical financial technology and services to the public and private sector.
Under the new partnership, Lenvi will work with Homes England to implement digital transformation across the customer journey, making it easier for customers to service their loans as well as handling all customer servicing enquiries.
The mortgage administration and servicing concession contract will go live in 2023 with the expectation of supporting more than 300,000 Help to Buy customers.
Richard Carter, Chief Executive Officer, comments: