Simon Carr, formerly a director at the specialist lending packager and broker, Promise Solutions, has rejoined the team to head up the new regulated mortgage division.

Since leaving Promise in 2014 Carr has pursued consultancy roles, led the launch of Precise Mortgage’s second charge offering and more recently ran a mortgage advisory firm.

Steve Walker, managing director at Promise, said: “I am delighted on a personal basis to work with Simon again as, apart from a recent break, we have worked very closely together since 1990.

“The business has been working on launching a regulated first mortgage arm for some time but, until now, not found the right person to lead it. This will complete the model giving us in house expertise and capabilities to offer a full range of prime and complex products across all sectors including first mortgages, second charges, bridging, commercial mortgages, development finance and unsecured business loans.

“Our only gap is a really good unsecured personal loan offering and that’s coming soon too.”

Carr said: “In recent years I have been fortunate enough to work on several exciting lender and broker propositions which have driven fantastic customer outcomes. I’m looking forward to working with the entire team at Promise Solutions to deliver on the firms strategic objectives.

“Promise has, for many many years, been an expert in the specialist broker market – the addition of whole a market mortgages will be a game changer for the firm, our introducers and ultimately our customers.”

Walker added: “Brokers have been asking us to take over their regulated complex mortgage cases in entirety but because our advisory scope was limited to second charges we couldn’t do this.

“The leg work has been done on first mortgages and with Simon’s experience and drive I expect to offer this service to all brokers very soon.”