Checkmate Mortgages could be in business by summer
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Rumours are rife that Checkmate Mortgages could launch as early as Q2 2010.
Industry sources say Stephen Knight, executive chairman of Checkmate and former chairman of GMAC-RFC UK, is preparing to launch his lender later this year after securing sufficient funding from one of its backers, global private bank Rothschild.
It is not yet clear if Checkmate has obtained a banking licence from the Financial Services Authority.
Last September Knight told Mortgage Strategy that he did not plan to return to offering significant adverse lending when he launched his firm.
He said at the time: “We will be almost completely mainstream and concentrate on what we have been great at for the past 22 years which is product design.”
Checkmate declined to comment.
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