New Street Mortgages products are now available to all mortgage distributors.
The lender, which is part of The Northview Group, launched into the buy-to-let market earlier in the year though a pilot scheme.
Rental calculations range from 115% – 125% at 5.5% to 80% LTV, subject to minimum property valuation and postcode.
New Street is also looking to cater for ‘let-to-buy’ customers, responding to a rise in the number of ‘accidental landlords’, who are choosing to rent out their existing residential properties, often as a result of moving elsewhere. New Street has announced new early repayment changes on its let to buy range, including a three-year fixed product with a one-year ERC.
Steve Griffiths (pictured), director of sales and distribution at The Northview Group, said: “This expansion of our proposition sees New Street set to meet the needs of a growing number of people choosing to invest in a buy-to-let property, whether as professional landlords or those looking to rent out their existing home.
“Through the intelligent, innovative use of data, and by offering robust decisions quickly, our products with geographically tailored rental cover will continue to offer a bespoke solution to landlords across England and Wales, with improved value for money and a highly targeted approach to rates for properties located in high-demand areas. Our let to buy range recognises the increasing needs of accidental landlords, who we see as an important market in the current climate.
“We strongly believe that New Street’s strategy of catering for customers whose needs don’t quite fit mainstream lenders’ criteria, but which are not complex cases will be a winner. We look forward in the coming months to seeing New Street further carve out its growing market share, offering a technology-led, analytics-driven proposition that helps borrowers get ahead in the property race.”