Hughes was previously chief executive officer of IFA network Burns Anderson and director of Legal & General Bank. He was been brought into Castle Trust to develop the partnership mortgage, due to launch later this year.
Hughes said: “The unique products being developed by Castle Trust are first class. The market has been crying out for innovation for some time and it’s a rare treat to be involved in such an exciting new venture. Initial feedback for the new concept has been very encouraging and we are looking forward to providing customers with much needed choice when they are seeking a mortgage.”
Sean Oldfield, chief executive officer at Castle Trust, added: “For nearly two years we have listened carefully and talked with over 10,000 homeowners and investors about our proposals and the response has been very positive. We are extremely confident that there will be a strong and growing demand for the ground-breaking mortgage and investments we are developing. As we will only be distributing through financial advisers, being able to draw on Mike’s extensive experience in the mortgage market will be invaluable to ensuring we meet all their needs.”
