Brightstar relaunches Private Label and reveals initial product offering
Brightstar Financial has relaunched Private Label and revealed product details for the historic brand once headed by Stephen Knight in the 1990s.
The products will be funded by specialist lenders including Kent Reliance, Saffron Building Society and Castle Trust.
They will consist of ‘The Mortgage Tailor’, where building societies bid for business within 48 hours, ‘The Temporary Letter’ for those wishing to let properties out short-term on websites like AirBnB, ‘The Self Builder’, aimed at high net worth clients building bespoke properties and ‘The Day One Remortgager’ for clients looking to remortgage their buy-to-let before the usual six-month period.
Rob Jupp (pictured), chief executive of Brightstar said: “Private Label is a tribute to Stephen Knight and his legendary former team, many of which are still involved in senior positions in the mortgage market.
“Private Label by Brightstar gives the trailblazing concept a modern, post-MMR feel, whilst remaining as innovative and product challenging as its predecessor.
“Private Label will give our chosen partners reward for their brand loyalty with the UK’s leading specialist distributor as it will win their advisors business over their non Brightstar competition.”
With The Mortgage Tailor the partaking societies are Bath, Family, The Mansfield and Penrith.
The Temporary Letter will consist of a buy-to-let deal up to 75% loan-to-value for homes up to £1m, with higher values on referral.
The Day One Remortgager will allow borrowers using different acquisition vehicles such as bridging loans to remortgage and raise funds within one day of legal completion and is available up to 75% LTV with a £200,000 minimum loan size.
Brightstar claimed The Self Builder is most competitive bespoke self-build product on the market.
Products will be available through 27Tec, Mortgage Brain and IRESS sourcing systems and will be submitted by requesting an enquiry form or submitted via Brightstar’s EasySource instant quotation and case tracking system.