Short-term bridging finance lender Omni Capital has announced the appointment of Colin Sanders as CEO.
Sanders is former CEO of GE Money Home Lending and Money Partners.
Omni says it intends to become the leading short-term lender and is can now lend in the unregulated residential market with loan to values (LTVs) of 80% on a first charge and 75% on a second charge.
The business was formed last year to provide short-term loans to individuals and residential investors, predominantly within the prime postcodes of London, the Home Counties, and the South East of England.
Originally a joint venture between property firm CPC Group and Mortgage Centre IFA, CPC Group has now purchased the remaining 50% of the Omni Capital share capital from former CEO Paul Munford making them 100% owners of the company.
Munford will remain as a consultant to the business.
Sanders said: “The opportunity to join an entrepreneurial new business which has already established itself as one of the key players in the sector is very appealing.