The specialist mortgage market is changing. Products are becoming increasingly standardised and it is becoming harder to tell the difference with the mainstream market. Brightstar wants to remain at the cutting edge of specialist products so as to offer your clients unique criteria that serves their specialist needs.
This is why we are excited to re-launch the iconic Private Label; a white label lending brand, first launched in 1977 by industry veteran Stephen Knight.
We have been talking and listening directly to you about what products your clients need and what the gaps are in today’s market. We have used our research and market insights to work closely with key lenders and to bring our partners the most innovative specialist lending products on an exclusive basis.
Initially, we will launch four new, carefully selected product areas. The products are funded by specialist lenders including Kent Reliance, Castle Trust and a number of building societies including Family Building Society, Bath, Saffron, The Mansfield and Penrith.
The Temporary Letter designed for the rising popularity of landlords wishing to let their property on a short-term basis via websites such as Airbnb.
The Self Builder is aimed at high net worth clients building bespoke properties. It will be the cheapest self-build product on the market.
The Day One Re-mortgager allows clients to re-mortgage their buy-to-let property before the usual six-month period. This allows borrowers using different acquisition vehicles such as bridging loans to re-mortgage and raise funds within one day of legal completion.
The Mortgage Tailor is a collaboration of building societies who are set up to provide bespoke solutions within 48 hours. Brightstar have set up a process where residential mortgage enquiries are sent to their building society partners who review the enquiry and respond within 48 hours.
Further details can be found on www.privatelabel.co.uk
All products will also be available through 27Tec, MortgageBrain and Trigold sourcing systems and will be submitted by requesting an enquiry form or submitted via Brightstar’s own EasySource instant quotation and case tracking system.
This is just the start. We want Private Label to be an active brokers’ lab where you feed your ideas into Brightstar about market niches and so that we can help make it happen.
We are absolutely committed to designing new products from broker feedback and demand. I would like to offer all SimplyBiz members the opportunity to be involved in creating new products.
Please contact me directly (email@example.com) about which areas of the market are currently underserved and which new product areas and criteria would most help your clients.
We aim to be flexible and to respond to market conditions as the demand arises. If you see appetite for certain products, then let’s see if we can make it work. Join us in the next stage of the evolution of specialist distribution.