Financial services challenger OakNorth has hired two former Coutts bankers to propel its entry into the retail mortgage market for jumbo loans.

It will offer a range of lifetime tracker products aimed at high net worth borrowers, lending from £500,000, though it will consider mortgages from £250,000 upwards.

OakNorth launched in 2015 to target entrepreneurial clients. It has since provided over £3 billion in bespoke loans.

The challenger has appointed what it called three experienced mortgage advisers, Kevin Appleton, Matthew McDonald and Mark Howell to lead its new service.

Mr Appleton joins from...