Amicus Finance has launched a new commercial mortgages business.
Amicus Commercial Mortgages will adopt a master broker model.
This new business aims to be a ‘one stop commercial mortgage shop’ offering finance across a broad range of SME sectors, property types and borrower risks.
The new business will be led by Rob Lankey, who has been appointed managing director of Amicus Commercial Mortgages.
Lankey joined Amicus last year, with the remit of strengthening its diversified lending strategy. He was previously the chief executive of the National Association of Commercial Finance Brokers.
Amicus Commercial Mortgages says it had adopted a “new way” of working with master brokers, who as well as working their own network of introducers, will help manage and process new applications on its behalf.
The business employs a risk-based pricing model, paperless processing system and a “pragmatic” underwriting strategy, from standard to bespoke transactions depending on the complexity of the deal.
The company said the aim was to eradicate the service issues which are all to commonplace in the sector at present.
Lankey will work alongside Amicus’s director of partner relationships, David Stiff. The senior team also includes Steve Prydderch as head of credit and special servicing, Luke Watson, head of underwriting, Graham Ritchie as senior lending manager and Mike Williams as head of operations.
Amicus Commercial Mortgages said it hoped to expand over the next five years and grow its headcount to 65.
Lankey says: “I’m delighted to be launching Amicus Commercial Mortgages. Our panel of brokers have been carefully chosen, and will be regularly reviewed and expanded with more high-quality brokers as needs dictate.
“Our objective is to make this new commercial mortgage business the best yet.”
Amicus Finance managing director Keith Aldridge says: “Led by a highly experienced team, coupled with an expert panel of carefully selected brokers, valuers and solicitors, Amicus Commercial Mortgages is an exciting extensions of our capablities in the property lending sector.”
Mortgages for Business, chief executive David Whittaker adds: “The broker market will be delighted to see Rob back as managing director of a new specialist lender. Joining with a team of industry stalwarts, shows the significant commitment that Amicus has made in this new venture.”