"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."
From today, the specialist distributor will offer its introducing intermediaries access to the exclusive mortgages.
Each of the initial four product areas has been carefully designed by Brightstar alongside its lender partners to fill a gap in the market.
Saffron Building Society's Self Builder is aimed at high net worth clients building bespoke properties.
The Temporary Letter from Castle Trust is designed for the rising popularity of landlords wishing to let their investment property on a short-term basis via websites such as AirBnB and similar.
The buy-to-let deal will be available up to 75% LTV on properties worth up to £1m with higher values on referral. Borrowers need six months of track record or proof that they can service loans from personal income.
The One Savings Bank 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 re-mortgage is available up to 75% LTV with a £200,000 minimum loan size.
The Mortgage Tailor is a collaboration of building societies who are set up to provide bespoke solutions within 48 hours. These include Bath Building Society, Family Building Society, The Mansfield Building Society and Penrith Building Society.
Brightstar has set up a process where residential mortgage enquiries are sent to their building society partners who review the enquiry and respond within 48 hours.
Private Label is a vintage mortgage market brand originally launched in the 1990s by a group of industry leaders with the same trading name.
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.
Rob Jupp, CEO 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 advisers business over their non Brightstar competition."
