ModaMortgages is to be the home of ‘smarter, faster, simpler’ BTL mortgages. Working exclusively through intermediaries, ModaMortgages will lend to a wide variety of landlords, including small and large portfolios, limited companies, individuals, and first-time landlords.
During its controlled launch period, ModaMortgages will be working with a select number of specialist distributors and packagers. Its full national launch will follow in the coming months.
Wrexham-based digital bank Chetwood Financial has been preparing for ModaMortgages’ launch over the past two years, as well as establishing itself in the specialist lending sector with the acquisition of CHL Mortgages for Intermediaries in May earlier this year. Andrew Arwas, Chetwood Financial’s managing director – mortgages, oversees the ModaMortgages and CHL Mortgages for Intermediaries propositions.
In the past year, the company has announced Ian Lonergan as its group chair. Lonergan was previously CEO and founder of Precise Mortgages, which grew to be one of the largest BTL and residential specialist mortgage lenders in the UK.
Meanwhile, Alan Cleary, the renowned mortgages expert with more than 30 years’ industry experience, has been appointed as chair of Chetwood Financial’s Mortgage Advisory Board, and Roger Morris, also formerly of Precise Mortgages, was recently unveiled as group distribution director working across the bank’s mortgage propositions.
Darrell Walker, who previously worked at OneSavings Bank building and developing the Prestige Finance and Interbay sales and distribution propositions, before also leading the group’s product and proposition function, is ModaMortgages’ director of sales and distribution. Walker oversees Scott Phillips, head of sales, and a team of five BDMs covering all of England and Wales.
Leveraging the team’s experience in the specialist lending sector, ModaMortgages will focus on delivering an exceptional, fast and transparent service that will resonate with intermediaries keen to work with uncomplicated, reliable lenders.
Walker said: “After a great deal of hard work behind the scenes, we’re delighted to announce our controlled launch. Our leadership team has vast experience in mortgages and specialist lending, and we’re completely aligned in our belief that the market is crying out for smarter, faster, simpler buy to let mortgages. ModaMortgages is built on honesty and transparency, and we’re confident that brokers will relish working with us. We’re really excited to start lending to their clients.”
Arwas added: “At Chetwood Financial, we create financial products and brands with a real point of difference – ModaMortgages will achieve this through the no-nonsense, exceptional service it delivers to intermediaries, making BTL lending as quick and simple as possible. The controlled launch period will allow us to demonstrate how successful the ModaMortgages approach can be, and we look forward to rolling it out across the entire market in the coming months.”
