ModaMortgages, the new specialist buy-to-let (BTL) mortgage lender from Chetwood Financial, has started its controlled launch.
Throughout the controlled launch period, ModaMortgages will work with several specialist distributors and packagers, with its full national launch set to follow in the coming months.
The Wrexham-based digital bank, Chetwood Financial, has been preparing to enter the specialist lending sector for the past two years. This was supported by the acquisition of CHL Mortgages for Intermediaries in May.
Managing director for mortgages at Chetwood Financial, Andrew Arwas, will oversee the ModaMortgages and CHL Mortgages for Intermediaries propositions.
In the past year, the firm has made several appointments in preparation for the launch. Ian Lonergan was appointed as group chair, having previously served as founder and chief executive officer at Precise Mortgages.
Alan Clearly joined the firm as chair of Chetwood Financial’s mortgage advisory board, bringing over 30 years of industry experience to the role, while Roger Morris, also formerly of Precise Mortgages, was appointed as group distribution director.
Darrell Walker, previously of OneSavings Bank, is now working as director of sales and distribution at the firm. He is overseeing the work of ModaMortgages' head of sales, Scott Phillips, and a team of five business development managers, that cover 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."
Arwas added: "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."
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