Vertex Financial Services has been appointed by a high street bank as standby servicer on a £1.6 billion portfolio of mortgage accounts.

The unnamed bank has awarded the deal on a ‘warm’ basis, meaning that Vertex is ready to deploy its people and systems within 60 days if invoked.

“We were selected on the basis of our ability to provide highly skilled staff, flexible and functional software and systems, and the scale of operations large enough to support the breadth of the bank’s mortgage offering,” said Robert Coyle, Vertex Financial Services’ managing director.

“A bank of this size will inevitably require servicing for a wide and varied product range, including first and second charge, residential and commercial. Our experience and infrastructure would allow us to handle such assets with complete confidence.”