Phoebus servicing more than £20bn in equity release loans

24 July 2024

Equity release assets top £20 billion on Phoebus servicing

Phoebus now services more than £20 billion of equity release loans in the UK. This is a result of new client wins and incremental client growth.

Phoebus, the market’s leading mortgages and savings account servicing provider, has worked in the equity release sector since 2007. Since then, the business has partnered with leading equity release brands to help clients achieve their strategic and growth objectives.

Clients utilise the Phoebus ecosystem consisting of APIs that transfer customer data between Phoebus servicing and internal and third party systems. The originations and migrations API onboards loans from any originations or servicing platforms seamlessly and efficiently.

The latest Phoebus digital user interface is more intuitive for clients, making loan servicing more efficient than ever through both high levels of automation and an intuitive user experience.

The solution supports multiple brands for clients that require this multi-tenancy and also offers securitisation functionality for clients that utilise wholesale funding.

Richard Pike, chief sales and marketing officer, says: “Phoebus has been at the heart of the equity release industry for many years. We continue to invest in our product to keep Phoebus at the forefront of innovation in in this important market sector so that our clients reap the rewards.

“In particular, the Phoebus migrations API has been a large factor in the success of our growth in the equity release sector as it provides a fast and accurate solution unavailable elsewhere in the market for clients who buy and sell books, or who act as outsourcers on behalf of equity release funders and require their loans to be serviced.”