ModaMortgages, a new specialist buy-to-let (BTL) mortgage lender from Chetwood Financial, has started its controlled launch today.
ModaMortgages was built with the aim of providing ‘smarter, faster, simpler’ BTL mortgages.
Working exclusively through intermediaries, ModaMortgages will lend to a range of landlords, including small and large portfolios, limited companies, individuals, and first-time landlords.
During its controlled launch period, the lender will work with a select group of specialist distributors and packagers, with a full national launch to follow in the coming months.
Wrexham-based digital bank Chetwood Financial has been preparing for ModaMortgages’ launch over the past two years, in addition to its acquisition of CHL Mortgages for Intermediaries in May this year.
Andrew Arwas, managing director – mortgages at Chetwood Financial, oversees the ModaMortgages and CHL Mortgages for Intermediaries propositions.
In the past year, the firm has announced Ian Lonergan as group chair – previously CEO and founder of Precise Mortgages, which grew to be one of the largest BTL and residential specialist mortgage lenders in the UK.
Alan Cleary, who has more than 30 years’ industry experience, was appointed as chair of Chetwood Financial’s mortgage advisory board, and Roger Morris, also formerly of Precise Mortgages, was enlisted 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 business development managers (BDMs) covering all of England and Wales.
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.”
To find out more about ModaMortages’ strategy, keep an eye out for The Intermediary’s exclusive interview with Darrell Walker, coming to the site soon.
