ModaMortgages, a new specialist buy-to-let mortgage lender, has been officially launched by Chetwood Bank today.
Working solely via intermediaries, ModaMortgages will lend to a broad range of landlords, including small and large portfolio, limited company, HMO/MUFB, individual and first-time landlords.
WIDER DISTRIBUTION
Following a restricted pilot last year, ModaMortgages has extended its distribution and is now accepting buy-to-let 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 lender intends to widen distribution further in the coming months, as well as growing its brand presence in the market.
Its aim is to be the home of ‘smarter, faster, simpler’ buy-to-let lending.
FREE PRIZE DRAW
To celebrate the launch, ModaMortgages is offering five brokers the chance to win £250 worth of John Lewis vouchers if they register with the lender between now and 28 February 2025.
ModaMortgages is also offering a limited-edition range of two- and five-year buy-to-let mortgages with rates starting from 3.74% up to 75% LTV with a choice of either a 2.5% or 5.5% fee.
Darrell Walker (pictured), ModaMortgages’ director of sales and distribution, 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 sales team covers all of England and Wales. They’re hungry and will be a breath of fresh air in the market”
“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.”
“EXCITED”
Martin Reynolds, chief executive at SimplyBiz Mortgages, commented: “We’re excited by ModaMortgages’ proposition at making buy-to-let 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 buy-to-let lender is another positive show of support in the long-term value that private landlords offer the rental sector.”
“We’re always looking for lenders who are innovative and who have that can-do attitude, and Darrell and his team certainly appear to have those qualities in abundance”
Greg Cunnington, head of strategic accounts – lender at L&G Mortgage Services, stated: “We’re delighted to be able to welcome ModaMortgages to our panel at the start of their journey.
“We’re always looking for lenders who are innovative and who have that can-do attitude, and Darrell and his team certainly appear to have those qualities in abundance.”
Doug Hall, director at 3mc, one of the distributors who worked with ModaMortgages during the controlled launch period, added: “We’re delighted to partner with ModaMortgages during such an important time for their future growth. We’re really looking forward to placing more business with them.”
