The Mortgage Lender chief executive Peter Beaumont is to step down from the business after seven years.

Beaumont joined the lender in 2017 as deputy chief executive and was promoted to the chief executive role in 2020, taking over from Trevor Pothecary.

The lender says that during Beaumont’s time at the helm, the business grew significantly, becoming an established presence in the specialist mortgage market and having originated close to £3bn of assets.

In 2021, Beaumont managed the sale of the business to Shawbrook Bank.

Current chief operating officer at The Mortgage Lender, Hugh Meechan, will lead the business on an interim basis until a new chief executive is appointed.

No announcement has been made on Beaumont’s future career plans as of yet.

He says: “I’m incredibly proud of what The Mortgage Lender has achieved, particularly over recent years. The talent of the team, the investment in technology and the relationships we have with our introducers makes this a very special business. I look forward to seeing TML continue to innovate and grow in the specialist mortgage market.”

Shawbrook chief executive Marcelino Castrillo says: “Peter has made a huge contribution to the TML story, leading its growth as both an independent specialist lender and as part of the Shawbrook Group where he has also been a very active and supportive presence at the Executive Committee.  We thank him for his contribution and wish him well for the future.”