HML has been awarded an upgrade to Above Average for its special servicing by Standard & Poor’s (S&P).

This announcement follows Fitch’s special servicing upgrade of HML to RSS2- on 1 September.

The value of mortgages in HML’s special servicing department has almost doubled to £4.98 billion over the last year.

It means no other UK servicer holds a higher rating for primary or special mortgage servicing.

Special servicing is an enhanced way of managing customer arrears that uses predictive modelling and reporting systems to identify higher risk customers and determine bespoke collection strategies.

Brian Brodie, HML’s chief executive officer, said: “Special servicing has delivered real benefits for our clients that have been recognised by both of the independent ratings agencies. The fact there is not a servicer ranked higher by S&P in the UK is testimony to the hard work