Phoebus Software Limited and Lendco have signed a new four-year contract in a move that 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) mortgages, bridging and refurbishment loans will be migrated onto the Phoebus platform in the first quarter.

The Phoebus solution was delivered into user acceptance testing within three months of Lendco signing off its requirements. The solution went live in December 2021 and the software firm stated that it facilitates Lendco’s servicing requirements and securitisation needs.

Phoebus originations and migrations API will be used to automate the onboarding of cases, the firm added.

“Lendco is an innovative lender which we are very pleased to bring into our client user group,” commented Phoebus sales and marketing director, Richard Pike. “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.

“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.”

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

“The interaction with Phoebus from start to finish has been first class and it is a company that delivers to its commitments. We look forward to working with it in partnership to achieve mutual success for both parties.”

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