Mortgages  

Challenger bank to offer commercial mortgages

Challenger bank to offer commercial mortgages

Hampshire Trust Bank intends to expand into the commercial mortgage sector this year, as it makes two appointments.

The challenger bank, which focuses on supporting UK small and medium sized businesses, plans to move into the commercial and buy-to-let mortgage sectors, with other specialist mortgage lending lines to follow.

Colin Bell has joined as managing director of commercial mortgages, while Anna Lewis has been appointed as head of production.

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Mark Sismey-Durrant, chief executive officer at Hampshire Trust Bank, said there are “a wealth of opportunities” available in the commercial and buy-to-let mortgage sectors.

He said: “As a new challenger bank, we do not have the legacy issues experienced by some of the older banks, so we are able to offer the flexible financing solutions and specialist expertise that British businesses and buy-to-let investors need in order to grow.”

He added its specialist staff were key to progress in the sector, so welcomed the new hires.

Mr Bell, who has 20 years of mortgage experience, was director of products and new business for Kent Reliance, InterBay Commercial and Prestige, all part of the OneSavings Bank Group.

He was formerly chief executive and founding director of InterBay.

He commented the SME lending market remains underserved by true specialist lenders.

Mr Sismey-Durrant said: “I found the business culture, attitude and approach an ideal fit and am looking forward to developing the products, teams and distribution channels to ensure we have a successful launch and provide a positive contribution to the already successful bank.”

Ying Tan, managing director of Surrey-based the Buy-to-Let Business, commented Mr Bell was instrumental in InterBay’s propositions.

Mr Tan said: “It doesn’t surprise me that Colin is now with Hampshire Trust Bank and that it is looking in that direction. Hopefully they will shake up the market and introduce some innovative products.”

Ms Lewis, who has worked in the mortgage sector for 13 years, also joins from InterBay, where she was sales manager.