ModaMortgages, a new specialist BTL mortgage lender from Chetwood Financial, has announced its controlled launch today.
The firm will work exclusively through intermediaries aiming to lend to a wide variety of landlords, including small and large portfolios, limited companies, individuals, and first-time landlords.
During its controlled launch period, the lender will be working with a select number of specialist distributors and packagers, with its full national launch following in the coming months.
Parent company, Chetwood has been preparing for the launch over the past two years — Chetwood also purchased CHL Mortgages for Intermediaries earlier in May this year.
Andrew Arwas, managing director of mortgages will be overseeing both Moda Mortgages’ and CHL’s propositions.
Meanwhile Alan Cleary has been appointed as chair of Chetwood’s mortgage advisory board — Roger Morris was recently announced as group distribution director working across the bank’s mortgage propositions.
Darrell Walker (pictured above), is ModaMortgages’ director of sales and distribution and will oversee Scott Phillips, head of sales, and a team of five BDMs covering all of England and Wales.
Having previously worked at OneSavings Bank, Darrel helped build and develop the Prestige Finance and Interbay sales and distribution propositions, before also leading the group’s product and proposition function.
Commenting on the launch, Darrell 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.”
Andrew added: “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.”
