David Tweedy and Guy Batchelor have reunited and are planning to bring a new lender to market called Belmont Green Finance.
Tweedy, who was market relations director at Target until October, is Belmont’s chief executive and Batchelor, who left Countrywide last year, is the firm’s sales and marketing director. Tweedy and Batchelor worked with one another at Platform between 1999 and 2006, where they were managing director and sales and marketing director, respectively.
Joining them are former Northern Rock chief information officer Lesley Sewell as chief operating officer and ex-PIMCO head of residential mortgage-backed securities Will Davies as chief financial officer.
Belmont, which is based in Egham, will be a wholesale-funded lender that will only distribute through intermediaries.
Its main investor is Pine Brook, which is a New York-based private equity firm that manages more than $6bn of capital.
Tweedy says: “I can confirm that we are exploring market opportunities in residential mortgage lending, looking to build a proposition that challenges the status quo, but there is no definitive plan or timing for a launch. We look forward to updating the market when we have more to say.”