Mortgage Gym has made Henry Ritchotte, formerly of Deutsche Bank, an adviser and board member after he invested £500,000 in the startup.
Ritchotte (pictured) used to be chief operating officer at Deutsche Bank, after which he seemed set to spearhead a digital banking service for the German giant which never materialised.
After leaving the bank he has been contributing to startups ‘with a strong focus on disruptive regulatory and technology driven business models’.
Ritchotte said: “I am very excited to be joining MortgageGym ahead of its official launch this summer when it will, no doubt, revolutionise the mortgage market with the introduction of the first, digital mortgage marketplace for UK consumers.
“I am keen to support ambitious young firms focussed on transforming the delivery of financial products in a disruptive regulatory and technology environment.
“MortgageGym has been carefully designed in consultation with regulators, consumers, lenders and intermediaries to ensure that it provides mortgage applicants with peace of mind by advising them on mortgages that they can realistically afford.
“Not only will it make the application process easier for users, but it will also help those who couldn’t get a deal previously to secure a mortgage perfectly suited to their income level.”
John Ingram, founder and chief executive of MortgageGym, said: “We are delighted to have someone of Henry’s experience on board in an advisory capacity. He brings a wealth of digital expertise and experience from his work at Deutsche Bank.
“He is hugely respected and will be a valuable addition to the company. MortgageGym is intent on revolutionising the mortgage market through a completely digital, whole-of-market, free and accurate application process, which is a first of its kind.
“Henry’s investment into the business confirms his confidence in MortgageGym’s ability to achieve this goal.”