New Street Mortgages, which launched in March, has completed its buy-to-let pilot phase.
The new lending brand from the Northview Group now plans to roll out a streamlined range of products to all distribution partners in the coming weeks.
Following feedback, as well as simplifying its range, New Street intends to reduce rates and focus in on core market segments such as let-to-buy and portfolio landlords, positioning itself as ‘just off the high street’, and providing an alternative to both traditional mainstream and specialist lenders.
Steve Griffiths, director of sales and distribution at The Northview Group, said: “During our successful pilot phase, New Street has proven its ability to meet consumer demand and carve out a position in the market as a modern, technology-driven lender that offers mortgages relevant to the personal and regional needs of our borrowers.
Our pilot phase has given us a great opportunity to further listen to the requirements of both advisers and their clients, and we will now be using this experience to refine our existing range for an upcoming expansion of our distribution.
We are very grateful for the support and guidance of these pilot partners. They asked for a simplified range and clear, robust decisions, plus pricing which matches the brand’s positioning of ‘just off the high street’, and we will be delivering that with our revised set of products.
“We are very excited about what the next phase will bring for New Street Mortgages as a fast, innovative and intelligent solution to the market’s needs, and we look forward to continuing to develop our proposition as well as widening our distribution to help more people find the mortgages they need.”
