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



Latest Comments

DmitriKara
DmitriKara 29 Jun 2016

I just read another article about eviction rising and this was exactly what was on my mind, Housing has become "cat and mouse"...

view article
DmitriKara
DmitriKara 29 Jun 2016

I am really not surprised. I've seen one too many impudent tenants and in my humble opinion renters have one too many privileges and options to abuse heir landlord in so many ways...

view article
DmitriKara
DmitriKara 29 Jun 2016

There is still so much uncertainty and I will surely step back and see what's happening before I could make any decisions on my end.

view article
ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

view article
NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

view article
AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

view article
Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

view article
Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

view article
Kate Windleton
Kate Windleton 14 Jun 2016

An interesting research indeed. I guess that is in complete contrast with the United States where people often move from one coast to another. It will be interesting to hear the trends for people moving...

view article
NathanGreen
NathanGreen 14 Jun 2016

I think it all depends on the market conditions and how well your company is doing. You will agree that you can't demand more when you're killing yourself just to hang in there. Sometimes you need all

view article
ChristinaReedUK
ChristinaReedUK 13 Jun 2016

What does "detecting a bad vibe" mean actually. I've had certain vibes like these and yet have always found a reason , if there's any, why I don't like a certain property. The property maintenance might...

view article
keybanks estates
keybanks estates 08 Jun 2016

Great News for first time buyers, about time two!

view article

Related stories

More articles from Finance