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 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.
Following the signing of a five year contract, Phoebus Software has completed its migration of Castle Trust’s mortgage book onto the Phoebus cloud based mortgage servicing solution. 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 the change to Phoebus workflow, which now can produce redemption quotes and annual statements within seconds, where as previously it was labour intensive.
