A new buy-to-let lender, Quantum Mortgages, is set to launch in early 2022.
The specialist buy-to-let (BTL) lender will initially focus on professional landlords “who are underserved by the high street and many other specialist lenders”, it boasts of offering manual underwriting with no automatic credit scoring alongside an individual approach to each application.
The lender will be steered by managing director Jason Neale and sales director Spencer Gale.
Neale most recently worked as head of BTL lending at Axis bank for a year and half, as sales director at Magellan Homeloans for four years, up until May 2019, and as a regional sales director at Primis, between 2009 and 2014.
Gale has also completed stints at Axis Bank and Magellan Homeloans and worked as head of sales at ULS Technology.
Additionally, Gautam Pandey will take on the role of capital markets and funding director and Manish Shah as non-executive director.
Pandey brings over 17 years of investment banking experience to the table, while Shah has over 15 years in investment management and asset management.
CarVal Investors has provided the lender with a £1bn funding line.
Quantum Mortgages will be an intermediary only lender and will have a technology focus, meaning brokers will not have to submit paperwork.
Neale says: “As the additional taxation burden is really starting to bite, professional landlords’ circumstances continue to become more complex, leaving a greater number being underserved by high street lenders and even many of the so-called specialist lenders”.
“We’re delighted to have secured a substantial initial funding line which gives us the flexibility to take a more common-sense approach to lending with more useful and modern lending criteria, coupled with the ability to listen to and understand individual circumstances.”
And Gale adds: Throughout my career I have been passionate about improving the customer journey, adding real value to my intermediary partners whist being open, honest and transparent.
“I am therefore delighted to be able to launch a business with these values running through it and to really focus on the needs of intermediaries by combining the latest technology with expert human underwriting.”
