Full rollout eyed in the coming months
ModaMortgages, a new buy-to-let mortgage lender from Chetwood Financial, has launched its controlled rollout.
The lender, which promises “smarter, faster, simpler” BTL mortgages, will work exclusively through intermediaries. It aims to serve a wide range of landlords, including those with small or large portfolios, limited companies, individuals, and first-time landlords.
During the initial launch phase, ModaMortgages will partner with a select group of specialist distributors and packagers, with a full national rollout eyed in the near future.
Chetwood Financial, a digital bank based in Wrexham, has been preparing for the ModaMortgages launch for two years. The bank has been expanding its presence in the specialist lending sector, acquiring CHL Mortgages for Intermediaries in May. ModaMortgages and CHL Mortgages are both overseen by Andrew Arwas, mortgages managing director at Chetwood Financial.
In the past year, Chetwood Financial also named Ian Lonergan, former CEO and founder of Precise Mortgages, as group chair. Lonergan led Precise Mortgages to become one of the UK’s largest BTL and residential specialist mortgage lenders. Alan Cleary, a well-known mortgage expert with over 30 years of industry experience, was appointed chair of Chetwood’s mortgage advisory board, while Roger Morris, also formerly of Precise Mortgages, was recently appointed as group distribution director for Chetwood’s mortgage division.
ModaMortgages’ sales and distribution will be led by Darrell Walker (pictured), who previously worked at OneSavings Bank. Walker is supported by Scott Phillips, head of sales, and a team of five business development managers covering England and Wales.
“Our leadership team has vast experience in mortgages and specialist lending,” Walker said. “We’re completely aligned in our belief that the market is crying out for smarter, faster, simpler buy-to-let mortgages.”
Arwas noted: “The controlled launch period will allow us to demonstrate how successful the ModaMortgages approach can be. We look forward to rolling it out across the entire market in the coming months.”
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