Mortgage Debt Recovery
Providing a compliant and ethical mortgage debt collection service
Ensure your customers are treated fairly when encountering mortgage arrears by using our compliant and ethical mortgage collections service. We cater to each client’s needs, evident from our longstanding relationships with several high profile banks where we have provided mortgage debt recovery services since 1994.
We resolve customers’ liabilities in a compliant process, using the right ethos and a sensitive approach. This is particularly important when dealing with Mortgage Shortfall debt, as customers may be in a vulnerable position after having their property repossessed when in a negative equity situation.
Your customers can be confident that they are dealing with a customer centric organisation. Our Customer Account Agents within our mortgage collections team have been specifically selected based upon their experience and life skills. When handling mortgage shortfall debt we understand it can be a delicate situation to approach therefore we like to build rapport with customers by giving them a dedicated account handler. In an understanding of the difficult customer situation we provide customers with support and enter discussions around all available options to address their liability.
Due to the nature of mortgage shortfall debt, it may take an extended period for customers to become settled at a new address and re-establish their financial position. With these debts not becoming statute barred until 12 years have passed in England and Wales, and 11 years in Scotland, it affords greater opportunity for a long-term approach to managing customer accounts to be taken.
Our debt recovery service will increase your levels of customer contact by utilising our highly effective in-house trace services team. This includes a process of periodic review for establishing contact with the customer (including tracing) and engaging them in discussions to resolve their financial situation.
Improve customer experience using a customer focused mortgage collections processes
A positive customer experience can be sustained during our debt collections process. To establish a suitable course of action, our account handlers build a financial profile of each mortgage customer before attempting to make contact. We make use of various data sets to build a picture of the customer’s individual circumstances; this includes the use of desktop software showing customer credit data and levels of financial exposure.
When entering into contact with customers, our account handlers are rigorously trained to build rapport with customers and understand the events that have led to the customers’ current position. From this questioning and taking into account the data available, our account handlers are able to build a complete picture of the customer’s situation. At this point, we then work with customers to establish the most suitable approaches for resolution. Any recommended solutions will take into account customers lifestyle requirements and levels of affordability.
Increase returns with sustainable payment arrangements
Our Customer Account agents will actively engage with customers and ensure any arrangements in place treat customers fairly. We maintain accurate and up to date customer details through a series of alerts. The alerts identify changes in customers’ circumstances including changes of address and credit updates.
A responsive approach is taken when working with vulnerable customers. To ensure we have the ability to segregate and handle customer’s accounts appropriately, we have specialist support teams. These include specialists that can facilitate the needs of customers who are considered vulnerable, encompassing customers that are financially vulnerable, or are suffering mental and critical illness.
Achieve enhanced operational standards in mortgage debt recovery
We deliver continuous improvements against operational standards and customer engagement. Quality Assurance checks ensure we are frequently reviewing our operating standards and are achieving excellence. With the use of Speech Analytics we forensically analyse the content of every call against operational standards to ensure that we deliver optimum customer outcomes.