Priest will be responsible for The Mortgage Lender’s team of key account managers and establishing close relationships with networks, distributors and mortgage clubs.
She has over 26 years’ financial services experience including being part of the launch team for The Mortgage Works and building the Portman and Nationwide’s business development team.
Priest said: “I am passionate about delivering exceptional broker service.
“The Mortgage Lender will put the personal touch back into the relationship between lender and broker by being accessible, honest and fair. The broker is our customer and I feel lenders forget they have a choice where they place their business.
“We aim to create partnerships with brokers by being innovative in our offering and simplistic in the way that brokers interact and get a decision from us.”
Sales and marketing director, Pete Thomson, said: “Paula has invaluable sector experience. Her passion for delivering customer service and investing in building strong relationships with distributors, networks and clubs mirrors our own.
“We’re delighted to announce her appointment and are looking forward to launching The Mortgage Lender to market in the coming weeks.”
In February, chief executive of TML and former Mortgages plc head Trevor Pothecary (pictured) confirmed the mortgage lender was moving quickly towards launch from product design to regulatory approval.
TML’s board will also include David Newman as chief financial officer, Hugh Meechan as chief operating officer, Pete Thomson as sales and marketing director, and Alex Cameron as chief administrative officer and general counsel.
Other key personnel include Alisa Smith, head of credit scoring; Claire Duncan, head of projects; David Hood, head of technology and Derek Brown, IT operations manager.
Mortgages plc was founded in 1997 by a team including Pothecary, securitising over £7bn worth of mortgages and bought by Merrill Lynch in 2004.
At its peak, it achieved lending volumes of £2bn. It was bought by Merrill Lynch in 2004.