MORE than 100 jobs have been created for people in East Lancashire after a company announced massive expansion plans.

Skipton-based Homeloan Management Limited (HML), a provider of mortgage administration services, has bought 20,000 square feet of new premises at Shuttleworth Mead in Padiham.

The move comes after it signed a new contract with mortgage lender, GMAC-RFC, part of the General Motors group of companies.

The contract has the potential to double the turnover of HML during the next five years and has led to the company needing the new premises to meet the initial expansion.

HML, which was formed in 1988, is also negotiating to build a further 30,000 to 50,000sq ft building on the same site to cater for anticipated growth.

It is expected that the workforce in Padiham could reach 600, similar to its current workforce in Skipton.

The company has already recruited 130 people and is still in the market for more to join the workforce.

Burnley MP Peter Pike was due to visit the Shuttleworth Mead site today to check on progress.

Rita Walsh, secretary of the Burnley and District Chamber of Trade, said: "It is an absolute gift for Padiham and couldn't go to any better place.

"It will also help surrounding areas as Shuttleworth Mead is so well placed it will benefit people in Blackburn, Hyndburn and Rossendale, as well nearer to home in Burnley and Padiham.

"It is just what we need, more permanent full-time jobs with plenty of people skilled to fill them.

"It is the most marvellous news for Padiham in a long time.

"I am sure that in Padiham tonight when people read about this there will be some rejoicing."

HML's clients include banks, building societies, insurance companies and specialist lenders who benefit from a full range of tailored mortgage administration services from initial enquiry through to shortfall debt recovery.