New BTL lender launches

New BTL lender launches

New Street Mortgages has today launched its first range of buy-to-let products with initial distribution available to customers via London & Country, John Charcol and the LSL mortgage networks of Pink and First Complete.

New Street will be offering procuration fees of 0.5% on buy-to-let mortgages, and plans to further expand its distribution channels and broaden its product offerings later in 2016.
 
Its lending process offers online decision-making combined with a broker portal which offers real-time case tracking and access to underwriter notes. New Street says that using this process, it will be possible for some New Street customers to secure a mortgage in 5 days.

New Street will also offer an ‘Advance’ range, which analyses market sector risk and borrower profiles to offer customers a better deal where client circumstances allow.


Adrian Whittaker, Sales Director at New Street Mortgages, said:

“Mortgage lending is ripe for modernisation – and that’s what New Street is all about. The mortgage application process has not kept up with the technological advances that we have seen in other industries, for brokers and customers alike, which means getting to the mortgage decision can be slow and uncertain. If you combine this with the extra time that brokers need to invest in every application following the MMR, it often feels that writing mortgages is harder now than it has been in the past. At New Street, we believe that the mortgage application process should be digital, modern and transparent – and beneficial for brokers and customers alike.  

“Our ‘smarter mortgage solutions’ approach, based on our fast online sourcing process helps brokers to reach rapid, certain decisions with their customers. New Street Mortgages’ focus on digital transformation of the mortgage processes with intelligent use of data, a range of tailored products and our Group’s mortgage market heritage means New Street can offer unique lending solutions to meet the needs of today’s brokers and borrowers.”

David Finlay, Director of Distribution at Northview Group, said:

“New Street Mortgages’ analytically-driven and modern approach to the mortgage process is bringing mortgage lending into the digital age, promising transparent decision-making and tailored solutions which cater to the individual needs of today’s consumers.

“As part of the Northview Group, New Street’s launch will complement the existing focus of Kensington Mortgages and position the Group as a brand which caters for borrowers across the mortgage market. Mortgage lending has become a slow and time-consuming process, but New Street’s use of intelligent data-driven credit profiling will offer the market fast and consistent decision-making to more straightforward cases.”

Join our mailing list:

Leave a comment



Our Next Event

Specialist Lending Roadshow June 2017

Specialist Lending Roadshow June 2017

Crewe - 20/06/2017

Northampton - 21/06/2017

Chingford - 22/06/2017

Brighton - 23/06/2017

Register now

Latest Comments

Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

view article
Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

view article
Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

view article
paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

view article
CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

view article
warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

view article
Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

view article
Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

view article
MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

view article
bnellyb
bnellyb 08 Apr 2017

There will be an exodus of private landlords over the next 5 years as tax changes take effect, private landlords provide an important service to the rental market, why do housing associations and councils...

view article
Fred Cassman
Fred Cassman 07 Apr 2017

"Make it look like you are at home": often people forget this and share on facebook their location!

view article
jared townsend
jared townsend 05 Apr 2017

It'll be interesting to see how & if the Government's asset sale regarding mortgages helps

view article

Related stories

More articles from Finance

Specialist Lending Roadshow June 2017

20th-23rd June

4 days
7 specialists
4 locations
Free to attend

Click here to register now