ModaMortgages, a new specialist buy-to-let (BTL) mortgage lender from Wrexham-based digital bank Chetwood Financial, is set to begin its own controlled launch in the build-up to a full national launch early next year.
ModaMortgages plans to become ‘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.
Chetwood Financial explained it 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 of mortgages, oversees the ModaMortgages and CHL Mortgages for Intermediaries propositions.
“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,” Arwas explained. “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.”
Appointments
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, a mortgages expert boasting over 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 also 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.”
