Planning

Administration of a portfolio of equity loan mortgages on behalf of lenders

HOMES & COMMUNITIES AGENCY

This public procurement record has 1 release in its history.

Planning

18 Nov 2016 at 20:17

Market Engagement Notice
Summary of the contracting process

The Homes and Communities Agency (HCA) is seeking to administer a portfolio of equity loan mortgages on behalf of lenders, a process currently in the planning stage. This tender, titled "Administration of a portfolio of equity loan mortgages on behalf of lenders," is categorised under database services, with the delivery address located in London, United Kingdom. The key date for market engagement has been set for 23 February 2018, and interested suppliers are encouraged to respond to the HCA via email to participate in consultations regarding this service. Please note that a prior existing contract covering these services extends until 11 June 2019, with a possibility for flexible renewal after two years.

This tender represents a significant opportunity for businesses engaged in financial services and administrative support, particularly those with expertise in managing loan portfolios and compliance with financial regulations. Businesses well-suited to compete include those specialising in financial markets administration, database services, and housing administrative services. The anticipated growth of the loan portfolio, with an addition of approximately 27,000 new loans in the upcoming financial period, further underscores the potential for increased engagement and revenue within this sector.

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Notice Information

Notice Title

Administration of a portfolio of equity loan mortgages on behalf of lenders

Notice Description

The Homes and Communities Agency (HCA) is seeking to engage with the market via the publication of this prior information regarding the administration on behalf of the Homes and Communities Agency (HCA) of loans entered into by borrowers participating in Government home ownership schemes including: First Time Buyers Initiative, FirstBuy, HomeBuy Direct and Help to Buy equity loans. All loans are equity mortgages and always ranked second behind main lender mortgages and secured on the borrowers' home. The HCA has an existing contract for the provision of this service which runs until 11 June 2019. The term of this contract is conditional and includes a flexible break clause which HCA can exercise from the two year anniversary. In order to fully consider the HCA's position, the changing nature of the portfolio and its administrative and regulatory requirements, the HCA is conducting a soft market test to consult with potential suppliers. This consultation is being conducted to inform the HCA's decision as to the future delivery of this service. Issue of this Prior Information Notice is not confirmation that the HCA has made any decisions in relation to future service delivery. Suppliers interested in the consultation should contact the HCA via the email included in Section I. In response they will be issued with a market-testing questionnaire for completion and return to HCA. Administration of equity loan mortgages includes: issuing compliant annual statements to borrowers, collecting interest from borrowers and ensuring that correct sums are recovered from borrowers on loan redemption and dealing with arrears. The administrator will hold and manage a database of the loans and provide regular monitoring reports to the HCA. A proportion of the portfolio comprises approximately 20,000 current Consumer Credit regulated loans from the previous HomeBuy Direct and FirstBuy programmes where the lender party is a private house builder. Services also includes responding to enquiries from borrowers and applying agreed policies to deal with borrower requests e.g. for re-mortgaging, loan repayment or changes of parties to loans. The loan portfolio comprises more than 70,000 loans at end March 2015. The portfolio continues to grow (it is estimated c27,000 new loans will be added in 2015-16 - April to March). The 20,000 regulated loans referred to above (and included in the 70,000 total) will become Regulated Mortgage Contracts from 21 March 2016 when the Mortgage Credit Directive Order comes into force. It is not anticipated that any new Regulated Mortgage Contracts will be added to the portfolio. Administration of the loans in the portfolio (regulated and non-regulated) must be compliant with all applicable legislation including all FCA and CCA requirements. Additional information: All discussions, meetings and communications will be conducted in English. The contract will be subject to English law. Tenders and all supporting documents must be priced in GBP and all payments under the contract will be made in GBP. This procurement and award is subject to the transparency arrangements being adopted by the UK Government. These arrangements include the publication of tender documentation issued by the HCA and the contract between the HCA and supplier. Bidders should highlight any areas they consider commercially sensitive in order for the HCA to be able to honour our transparency obligations without undermining the bidders commercial interests. Candidates are advised that the HCA is subject to the Freedom of Information Act 2000 ("The Act"). If a candidate considers that any of the information supplied as part of this procurement procedure should not be disclosed because of its commercial sensitivity, confidential or otherwise, they must, when providing this information, clearly identify the specific information they do not wish to be disclosed and clearly specify the reasons for its sensitivity. The HCA shall take such statements into consideration in the event that it receives a request pursuant to the Act which relates to the information provided by the interested party. Please note, it is insufficient to include a statement of confidentiality encompassing all the information provided in the response. All dates included in this notice are provisional and potentially subject to revision. The HCA reserves the right to abandon this procurement process without making any contract award and shall have no liability whatsoever to any party arising from issue of this notice. Parties expressing an interest and/or participating in a procurement process do so entirely at their own risk.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ecbe3257-adc8-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/ba1c14c7-9b78-49af-a9dc-e6e69302eb64
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

72 - IT services: consulting, software development, Internet and support

75 - Administration, defence and social security services

CPV Codes

66150000 - Financial markets administration services

72320000 - Database services

75112000 - Administrative services for business operations

75123000 - Administrative housing services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
18 Nov 20169 years ago
Submission Deadline
Not specified
Future Notice Date
23 Feb 2018Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Cancelled
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
HOMES & COMMUNITIES AGENCY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1P 4DP
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
Westminster
Electoral Ward
Vincent Square
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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