Chetwood Bank has officially launched its new specialist BTL lending business, ModaMortgages.
This follows its controlled launch which began in November 2024 and saw ModaMortgages work with a select number of specialist distributors and packagers.
The specialist lender’s launch has been in the works for two years.
Now officially launched, ModaMortgages will work exclusively through intermediaries and target a wide range of landlords, including small and large portfolio, limited company, HMO/MUFB, individual and first-time landlords.
This new lender is currently accepting BTL mortgage cases from clubs including 3mc, Brilliant Solutions, L&G Mortgage Club, Paradigm, PMS and SimplyBiz and networks including Connect, Cornerstone, HL Partnership, InPartnership, The Mortgage Group, New Leaf and Sesame.
The ModaMortgages team is now planning to widen distribution further in the coming months.
The lender is offering a limited-edition range of two- and five-year BTL mortgages with rates starting from 3.74% up to 75% LTV with a choice of either a 2.5% or 5.5% fee.
A marketing campaign has also been launched to mark the official launch, giving brokers the chance of winning £250 worth of John Lewis vouchers if they register with ModaMortgages by 28th February.
Darrell Walker, director of sales and distribution at ModaMortgages (pictured above), said it was “all systems go” after a “hugely successful” controlled launch period.
“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,” said Darrell.
“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.”
