Commercial News

Brightstar's Private Label launches new 'Bridging Buster' product

Amy Loddington -
14th November 2017
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Brightstar Financial is today launching four new and exclusive, specialist residential and buy-to-let mortgage products under its Private Label brand.

The new products under the brand’s second release will be funded by specialist lenders, including Castle Trust, Kent Reliance, Bluestone Mortgages and Kensington Mortgage Company.  The products include a credit repair product, a 'Second Homeowner' product, a 'Buy-to-Let Booster', and the 'Bridging Buster'. The four new products will sit alongside The Temporary Renter, a product from the first tranche of Private Label exclusives.

The Bridging Buster is designed for investors who have purchased a property with short-term finance (or cash), and wish to re-mortgage onto a traditional buy-to-let product.  The investor will be able to capital raise for re-investment based on any post works valuation uplift, within 6 months.  

Products will also be available through 27Tec, Mortgage Brain and IRESS sourcing systems and will be submitted by requesting an enquiry form or submitted via Brightstar’s own EasySource instant quotation and case tracking system.

Adrian Moloney, Sales Director at OneSavings Bank said:

“We are delighted to support Brightstar through its innovative Private Label mortgage brand by providing the market challenger with a Bridge Buster product which will allow customers the facility to quickly move recent purchases onto standard BTL rates.”

Rob Jupp, CEO of Brightstar said:

"Private Label so far has been a huge success and following further feedback from our brokers plus research between our own and lender partner product teams, we have put together another suite of exclusive market-driven products.  We will continue to drive innovation in the specialist sector focussing on under-served niches in the UK specialist lending market.  But we’d also like to offer brokers the opportunity to be involved in creating new products and I would like to hear directly from you about the areas and criteria that would most help your clients.” 

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