Peter Beaumont is set to take the helm at The Mortgage Lender on the back of record performance in 2019 and a 10 per cent boost to its monthly record for decisions in principle in January.
Beaumont joined The Mortgage Lender as deputy chief executive in November 2017 to strengthen the executive team and spearhead a push for growth. He will take over the role of chief executive from Trevor Pothecary who will become executive chairman. Both appointments are subject to regulatory approval.
The Mortgage Lender founder Trevor Pothecary said: “Peter has done a fantastic job since he joined us just over two years ago. He has identified new opportunities, differentiated the brand with ‘real life lending’, launched buy to let and overseen exponential growth in lending and the team.
“When we set up The Mortgage Lender in late 2014 the intention was to build a strong sustainable business, we have and continue to do just that. Peter’s appointment will allow me to transition to executive chairman, retaining executive responsibility and accountability by providing strategic oversight of the business and supporting and challenging the chief executive as we continue to grow.
“Peter’s appointment and mine are the logical next step in our evolution and I’d like to congratulate him on his promotion.”
Chief executive Peter Beaumont said: “I’m delighted to be taking on this challenge at a time when the hard work of the last couple of years is paying dividends and The Mortgage Lender is going from strength to strength.
“By adding skills and expertise to the team and investing in relationships with our broker partners we’ve successfully created a niche for our real life lending ethos by focusing on products that will meet the needs of today’s borrowers.
“We have ambitious lending targets for this year, have started the year strongly and are on track for another record year.”
The Mortgage Lender is an intermediary-only mortgage lender. It provides real life lending choices for a wide range of borrowers including employed, self-employed, those with impaired credit, lending into retirement and buy to let investors.
Last year it launched help to buy residential mortgages and its first buy to let free legals remortgage product. It also completed its first UK mortgage-backed securitisation of residential assets for £238.5m.