The Brightstar Group has turned its Private Label proposition into a service for complex high-value mortgages.
The service is designed to help brokers place residential first charge cases of more than £500,000, which will often include circumstances such as complex incomes, non-standard property types, foreign nationals or the need for higher income multiples.
It will also provide access to lenders and private banks that brokers may not be able to use directly, and lenders that have agreed to provide a dedicated, bespoke and exclusive underwriting process on Private Label cases.
Brokers will be able to choose between a traditional non-advised packaged service that searches the market for the most appropriate solutions, packages the case and manages it from enquiry through to completion, or the referral option, where a broker can refer the case to Sirius Property Finance to provide the advice and work directly with the client.
Rob Jupp, CEO at The Brightstar Group, said: “Private Label is an iconic brand in the mortgage market, and we relaunched it as a platform to innovate new products. This got some traction, but we felt there was potential to do more with the brand and so held a number of focus groups with brokers to see what they needed. The feedback we received was that they wanted a service to assist them with high value cases, and the complexities that come with them.
“So, we are introducing the next stage in the evolution of Private Label, with a team of specialists who have the knowledge and the relationships to successfully place large, complex loans. These are often unusual cases with several considerations, and, with Private Label, we have the access to lenders to source bespoke solutions for individual clients that are priced for their specific circumstances.
“Brokers have the choice to use Private Label on a non-advised packaged basis, or to refer the case to our team at Sirius Property Finance, who are adept at working with high net worth clients and high value mortgages on a direct basis.”