New specialist BTL lender ModaMortgages announces phased launch

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.

Wrexham-based digital bank Chetwood Financial has been preparing for ModaMortgages’ launch over the past two years, including the acquisition of CHL Mortgages for Intermediaries in May earlier this year. Andrew Arwas, Chetwood Financial’s managing director – mortgages, oversees the ModaMortgages and CHL Mortgages for Intermediaries propositions. 

In the past year, other high-profile appointments have been made, including Ian Lonergan - formerly CEO of Precise Mortgages - as its group chair; Alan Cleary as chair of the firm's Mortgage Advisory Board; and Roger Morris as group distribution director.

Darrell Walker, director of sales and distribution, 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.”

Managing director Andrew Arwas added: 

“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. 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.”