Colin Snowdon is set to join Pepper Homeloans as its managing director on 1 February.
Last year Sainsbury’s Bank brought in Snowdon to investigate a potential launch into the mortgage market.
Snowdon was chief executive of specialist lender and Merril Lynch subsidiary Wave Mortgages before it stopped lending in 2008.
He was Aldermore’s chief executive of residential mortgages when it launched into the market in 2009 before leaving to set up a consultancy a year and a half later. In August 2012 he became executive partner of mortgage strategy at Saffron Building Society before leaving in May 2014.
In his new role, Colin will have overall responsibility for the strategy and growth of Pepper.
Snowdon says: “I have been following Pepper Homeloans for some time and am very excited by this fantastic opportunity. Pepper is an established global company and I am looking forward to working with the team to grow a strong intermediary lender.
“Beyond this, I have a real respect for the Pepper culture and approach. I’ve spent my working life in the intermediary lending space developing alternatives to the one size fits all approach of the big lenders. I believe there are many opportunities to lend in the many underserved segments of the market and look forward to developing our proposition.”
Pepper UK chief executive Richard Klemmer says: “Colin is exceptionally well positioned to drive our growth in lending. His excellent experience and knowledge of the marketplace mean that he can help strengthen our existing relationships and form new ones – facilitating our expansion strategy and increasing our exposure to intermediaries.”