We'll stay close to mainstream, says Checkmate boss
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Natalie Holt
Stephen Knight, executive chairman of Checkmate Mortgages, says he will not return to significant adverse lending when he launches his lender.
This means that Checkmate won't provide products to borrowers considered to be below near-prime.
He has also vowed not to offer self-cert mortgages. Knight says: "I won't lend significant adverse or self-cert again.
"Product innovation and picking the people to lend to is what excites me."
He adds: " We'll be almost completely mainstream and do what we've been great at for the past 22 years which is product design."
Knight also says his firm is in conversation with 15 potential lenders, but adds that talks are moving slowly because the market is recovering slowly.
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