"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"
- Darrell Walker - ModaMortgages
ModaMortgages has launched today and, working exclusively through intermediaries, will lend to a wide variety of landlords, including small and large portfolio, limited company, HMO/MUFB, individual and first-timers.
The lender has now widened distribution and is currently 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.
ModaMortgages plans to widen distribution further in the coming months, as well as grow its brand presence in the market.
To celebrate the official launch, the new lender is offering five brokers the chance to win £250 worth of John Lewis vouchers if they register with them by visiting www.modamortgages.co.uk/intermediaries between now and 28 February 2025.
The lender is also 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.
Darrell Walker, (pictured) ModaMortgages’ director of sales and distribution, said it was now “all systems go” at the specialist lender.
“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,” he said. “The controlled launch period was hugely successful and the traction we’ve had has been really pleasing.
“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 upfront 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.”
Doug Hall, director at 3mc, one of the distributors who worked with ModaMortgages during the controlled launch period, said: “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.”
“We’re excited by ModaMortgages’ proposition at making buy-to-let lending as quick and simple as possible." added Martin Reynolds, chief executive at SimplyBiz Mortgages, "We’ve enjoyed working closely with 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.”
Greg Cunnington, head of strategic accounts - lender at L&G Mortgage Services, added: “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.”
