Castle Trust in mortgage tech modernisation project with Phoebus Software

Castle in the clouds Castle Trust has appointed Phoebus Software for all of its mortgage servicing, allowing to “significantly” reduce the time and

Castle in the clouds

Castle in the clouds

Castle Trust has appointed Phoebus Software for all of its mortgage servicing, allowing to “significantly” reduce the time and cost it takes to service its mortgage book.

The migration of existing books went onto the Phoebus’ cloud-based platform. Previously, Castle Trust had to carry out cases manually.

Phoebus completed its migration of over two thousand bespoke accounts for Castle Trust following its signing of a five-year contract. These included buy-to-let and limited company loans; some interest only products and some with flexible, rolled up interest; and almost all were high-value loans or for high net worth clients.

One example is redemption quotes, which will now take “minutes” to produce and annual statements can be produced by a “press of a button”, Phoebus says.

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