New Street completes pilot launch.
New Street Mortgages plans to launch a new range of products, following the successful completion of its buy-to-let pilot programme.
The new lending brand from the Northview Group, which launched in March, will offer a range of new mortgages to its distribution partners.
New Street focuses on serving customers whose circumstances are straightforward, but aren’t catered for by mainstream 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.”
Following feedback New Street intends to reduce rates and focus on buy-to-let and portfolio landlords, positioning itself as “just off the high street”, providing an innovative alternative to both traditional mainstream and specialist lenders.
Griffiths added: “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.”
