Draft:MPowered Mortgages

MPowered Mortgages is a British intermediary-only prime residential mortgage lender, headquartered in Guildford, England. The company expanded with its automated mortgage decisioning platform into the prime residential mortgage market in February 2022, following its initial launch in 2021.

MPowered Mortgages is authorised by the Financial Conduct Authority (FCA).

History
MPowered Mortgages was established in 2021 as the lending arm of MQube, founded in 2016 by Stuart Cheetham, formerly the CEO of Lloyds Bank Asia and Richard Fitch, a former banker at HBOS and Crédit Agricole. MQube offers property technology, financial technology and forward-flow solutions to banks, building societies and investment banks.

In April 2019, the company secured seed funding from specialist deeptech investors AV8 Ventures, IQ Capital and Jamjar Investments with further investment to fund mortgages in 2020. Following that, MPowered Mortgages launched into the complex buy-to-let market in March 2021.

In August 2021, the company secured institutional investment from Barclays, M&G Specialty Finance and Citigroup's SPRINT. Additional funding allowed MPowered Mortgages to expand its operations with an initial launch into the prime residential mortgage market in February 2022 before its whole-of-market expansion a year later in February 2023.

Technological Innovation
MPowered Mortgages was the first UK-based mortgage lender to develop a fully-automated mortgage decisioning platform, using artificial intelligence and deep learning to process client data and broker inputs.

In 2023, MPowered Mortgages rolled-out a suite of free generative AI-based broker support tools including CriteriaGPT, an online chatbot to resolve residential lending criteria queries and MarketingAssist, a content generator for independent mortgage intermediaries.