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Ward launches funding firm

Ward was chief executive of Britannic Money until it was bought by Paragon and rebranded Mortgage Trust last year.

Ward set up Home Funding earlier this year with former Britannic Money finance director and deputy chief executive Paul Rogers.

Part of the new firm&#39s role is to act as a link between investment bankers and financial firms wanting to raise funds. Clients will include those wanting to raise money to launch mortgage products.

Ward says: “I&#39m working with building societies that want to get funding in place to enter new product areas including equity release in the run-up to Basle II.

“I&#39ve also had some discussions with life companies about equity release.”

“But most of my time has been spent with brokers who are looking to become lenders. A number of intermediaries have been involved in correspondent and through lending but come FSA regulation they can&#39t pretend to be a lender if they&#39re not one.”

Home Funding says it is working with intermediaries wanting to broaden their business model by helping them structure products and raise capital.

The firm will act as the conduit between the intermediary and the investment market and charge a management fee for its service.

Any intermediary wanting to get involved in lending will have to get a mortgage lending licence from the FSA, although Home Funding is investigating the possibility of obtaining one licence to cover a number of firms.

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