Xit2 says Asset 1st has become the first asset manager to use its recently launched Property In Possession Portal.

Asset 1st, which offers asset management, survey and valuation services to owners of mortgage assets, will use the portal to help lenders administer the repossessions process from the point at which a property comes into their possession, to disposal.

The Property in Possession Portal is part of xit2’s Asset Management Services platform which it launched in April.

Mark Blackwell , managing director at xit2, said: “It’s great to be going live with Asset 1st so soon after unveiling our new business structure. I like to think xit2 is a technological innovator in the market and in Asset 1st we have found a business that shares the same values and aspirations as we do. I hope this announcement illustrates how we are broadening our proposition providing a full suite of asset management solutions.””