Checkmate Mortgages, a new lender targeting the intermediary and packager markets, has confirmed it has received investment backing.
Checkmate’s launch was announced in October last year by former GMAC-RFC chairman, Steven Knight, and Martin Finegold.
Capital has been provided for the venture by RIT Capital Partners and Lord Rothschild’s family interests, as well as Knight himself.
The lender already has flow agreements with two financial institutions and will establish warehouse lines when they become available.
Checkmate Mortgages is scheduled to launch in early 2009, distributing exclusively through intermediaries and packagers, and will develop its point of sale offer system and other infrastructure in the meantime.
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