Castle Trust appoints Citigate Dewe Rogerson
Citigate Dewe Rogerson has won a communications brief from Castle Trust, a mortgage lender for aspiring homeowners looking to make it onto the UK housing ladder.
Castle Trust launched on 1st October and the communications brief consists of developing a PR, public affairs and social media programme.
“Castle Trust is offering a truly innovative and ground breaking proposition, which is very exciting to work on,” explained Phil Anderson, executive director, Citigate Dewe Rogerson. “We have enjoyed working with them on their launch, and are looking forward to helping them develop their communications programme.”
Castle Trust received £65 million of equity investment from the private equity firm J.C. Flowers & Co. It offers a new type of mortgage called a Partnership Mortgage that is for 20% of the value of an owner occupied home alongside a repayment mortgage of up to 60% from a traditional lender and a deposit of at least 20%.
There are no monthly commitments on the Partnership Mortgage, and Castle Trust will share 40% of any profit made by the homeowner when they sell or at the end of the mortgage term. The company will also share 20% of any loss made if the home was bought with a Partnership Mortgage.
Castle Trust has a strong executive team lead by Sean Oldfield, the CEO and the board includes Sir Callum McCarthy, former chairman of the FSA and non-executive director of HM Treasury, the Rt Hon John Gummer (Lord Deben), former Secretary of State for the Environment, and Dame Deirdre Hutton CBE, non-executive director of HM Treasury and a former chair of the National Consumer Council and deputy chair of the FSA.