London & European Title Insurance Services has renewed their agreement with SPML to supply title insurance for a further 3 years.
Southern Pacific Mortgage Limited (SPML), backed by Lehman Brothers, is a UK mortgage lender that specialises in helping people or organisations that find it difficult to obtain mortgage finance from traditional sources.
Title insurance is insurance to cover the loss arising from a defect in title to real property.
SPML director of credit Stuart Aitken said: "London & European quoted the most competitive price and their cover is highly rated.
"The benefits of this cover have been highlighted this year by the completion of a £350m securitisation project which was entirely covered by the protection that London & European's product affords SPML.
"Most lenders use title insurance for certain loans on an ad hoc basis or use it on a percentage of their business, but SPML is the only lender that title insures every loan.
"Title insurance helps us to give our clients the quickest possible service, as it cuts down lengthy legal title search times."
London & European managing director Paul Beresford said: "We are delighted that SPML has confidence not only in our products but also in London & European as an organisation, and that they have renewed their agreement for a further 3 years."
