ModaMortgages, a new buy-to-let (BTL) mortgage lender from Chetwood Bank, has officially launched today.
The new lender is looking to provide "smarter, faster, simpler" BTL lending, working exclusively through intermediaries to lend to a variety of landlords, including small and large portfolio, limited portfolio, HMO/MUFB, individual and first-time landlords.
The lender has widened distribution and is currently accepting BTL mortgage cases from clubs including 3mc, Brilliant Solutions, L&G Mortgage Club, Paradigm, PMS and Simply Biz, as well as networks including Connect, Cornerstone, HL Partnership, InPartnership, The Mortgage Group, New Leaf and Sesame.
ModaMortgages stated that it plans to widen distribution further in the coming months, as well as increase its brand presence in the market.
To celebrate the official launch, ModaMortgages is offering five brokers the chance to win £250 worth of John Lewis vouchers if they register with them through the lender’s website.
Director of sales and distribution at ModaMortgages, Darrell Walker, said: "The official launch of ModaMortgages is the culmination of two years of hard work and dedication, so it’s an incredibly exciting time for us. The controlled launch period was hugely successful and the traction we’ve had has been really pleasing.
"Our ethos is all about doing the basic things really well – that’s our mantra: smarter, faster, simpler. We offer a great broker-friendly proposition, clear and transparent criteria, certainty up front and competitive rates, all backed up by a team that has a mass of mortgage experience and industry knowledge.
"Our sales team covers all of England and Wales. They’re hungry and will be a breath of fresh air in the market. When you place a case with ModaMortgages, you know what you’ll find – good people giving it everything they’ve got and doing their best to help you and your clients."
Chief executive at SimplyBiz Mortgages, Martin Reynolds, added: "We’re excited by ModaMortgages’ proposition at making BTL lending as quick and simple as possible. We’ve enjoyed working closely them as they’ve prepared for their official launch and believe their offering will resonate with intermediaries keen to work with an uncomplicated, reliable lender.
"The launch of a new BTL lender is another positive show of support in the long-term value that private landlords offer the rental sector."
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