Target expands third party offering

Target Group has expanded its loan and investment third party servicing operation with a major expansion in Chester.

The new operation employs over 130 staff, the result of a TUPE transfer, as well as additional management recruitment, taking Target’s total staff numbers to over 600.

Target’s Chester operation will initially provide primary and special servicing for a major first mortgage portfolio.

However the company said that client confidentiality prevented any further comment on the service or client. Additional multi-client outsourced loan operations will be run from the Chester site in the future and further jobs will be created, Target said.

Chief operating officer Neil Andrews said: “Target’s new loan servicing centre in Chester adds both capacity and resilience to our existing operations in South Wales. This is a cornerstone of our strategic plan to grow operations and expand our existing first mortgage servicing capacity.

“Target’s objective is to efficiently grow its operations through the smart application of technology, process efficiency and the development of a highly skilled team,” he added.