The business has agreed distribution arrangements with a number of partners including GE Money and Tiuta, and will seek to provide lending solutions across a wide range of niches including bridging finance, commercial, complex prime, and second charge lending.
Former co-founder of EM! Financial, Simon Mouncher, is joining mortgageforce™ to spearhead the new team, and managing director Kevin Duffy commented: “Mouncher was one of the pioneers of what used to be known as ‘the packaging sector’, and he will bring a wealth of experience and, most importantly, some long-standing lender connections as the need for specialist lending solutions gradually increases. The new unit will be more than just a ‘post office’ and virtue of Simon’s exceptional understanding of the lender’s underwriting processes; we will look to provide intelligent and genuine case resolution support to our 100 brokers and others elsewhere in the sector who may route enquiries through us.
“It may take some months before our operation is mature, but we are mindful that it may still be a while before the specialist market conditions have recovered, so it is very much about being well positioned to offer total solutions to our distribution.”
Simon Mouncher said: “I’m delighted to be finally back involved in a sector which I believe I have strong credentials for, and the opportunity to work with Kevin and his emerging team at mortgageforce™ was simply too good to pass up. Our launch will be discerning and progressive, rather than adopting a big-bang approach, as it’s important to ensure that the foundations we put down are the right ones and which endure in the years ahead.”
Mark Snape, secured sales director, GE Money Home Lending, commented: “GE is pleased to be teaming up with mortgageforce™. It is good news that Simon is coming back in to the market, and we look forward to working with him and his team. There is an excellent opportunity for both parties to tap in to the strong network of brokers mortgageforce™ has in place and to generate high quality business.”
George Patellis, CEO at Tiuta; commented: “The importance of strategic distribution and strong partnerships are key components in the market and we are delighted to continue our burgeoning relationship with mortgageforce™ as it looks to reinvigorate its packaging entity. mortgageforce™ is a well established company with a great infrastructure and the additional experience of Simon, given his extensive knowledge of the intermediary market, will certainly help give it a solid platform on which to do so.”
