Equity loan provider Castle Trust has appointed former Nationwide Building Society group distribution director Matthew Wyles as a senior adviser to its group board.
Wyles, who was chairman of the Council of Mortgage Lenders between 2009 and 2010, left Nationwide in December following a restructure.
He was an executive director of Portman Building Society for eight years before it merged with Nationwide in 2007.
Last month, Money Marketing revealed Castle Trust was looking to launch a new partnership mortgage where borrowers only need a 10 per cent deposit following the Government’s recent Help to Buy plans.
Borrowers with Castle Trust are currently required to provide a 20 per cent deposit in return for a 20 per cent equity loan. They are then able to access rates associated with 60 per cent LTV mortgages.
Castle Trust chief executive Sean Oldfield says: “Equity loans offer huge untapped potential in the UK and Matthew’s energy, experience and focus will be invaluable in helping me drive the business forward.”
London and Country head of communications David Hollingworth says: “Matthew has an extremely strong pedigree in the industry. It will be interesting to see what he can bring to the Castle Trust proposition.”