Mortgages for Business announces senior promotion

Mortgages for Business has promoted Peter Barnes to head of MfB for Intermediaries.

Peter has over 29 years of experience in corporate banking, having previously worked in underwriting, internal audit and project management roles.  

In his new position, he will help relaunch and expand the mortgage broker’s packager offering.

He will report to COO Gavin Richardson and will be responsible for both packaging and deal placement.

“IFAs or accountants can handle residential cases with their eyes closed and their hands tied behind their back but, with high-street lenders not as proactive as they were, their usual ports of call for commercial mortgages, bridging loans, property development finance and complex BTL mortgages have dried up,” claimed Peter.

“If they don’t have the expertise, access or time, we can place their deals for them.  

“We will work with them, the lender and associated third parties, leaving them to work with their client.  

“On the packager side, we can do both the DIP and the full mortgage application, then keep them updated as the case progresses via a dedicated consultant and client relationship manager.”

Gavin Richardson, chief operating officer at Mortgages for Business, commented: “This is an important development in our approach to the broker-to-broker space.  

“While Peter will be pitching the packager service at brokers who already know the lender they want to use but can’t submit applications directly themselves, his deal placement service will be aimed at those less experienced, time-pressed intermediaries looking to partner with a master broker that can source the right lender and structure a successful deal.”

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