400 jobs announced for Derry

Four hundred new jobs will be created in Derry with confirmation today of £9.5m (€13.7m) investment.

The jobs are to be created over the next three years by Yorkshire-based mortgage administrators Homeloan Management Ltd, according to the Northern Ireland trade, enterprise and investment minister, Ian Pearson.

Homeloan Management Ltd is a UK provider of systems and process outsourcing solutions.

It is a huge economic boost for Northern Ireland’s second largest city and the north west which has been badly hit by hundreds of job losses in the textiles industry.

The decision to set up in Derry will have the potential to deliver £5m (€7.2m) a year to the local economy in salaries alone, Mr Pearson said.

The establishment of a call centre will be the first stage of the Derry operation. Back office mortgage servicing activities will be introduced later.

HML managing director Steve Haggerty said the company was taking on a highly educated and talented local labour force who spoke the customer’s language and understood the business environment.

He added: “It also gives us a perfect location on the edge of eurozone to build our business outside the UK, in particular the Republic of Ireland.”