New Street completes first five-day application

New Street Mortgages has issued a mortgage offer within five business days for the first time.

The lender said it is delivering on its proposition of combining user-friendly technology, leading analytics and strong experience to speed up mortgage lending.

New Street launched in February promising to offer "analytics-driven lending leading to smarter mortgage solutions".

It made its first five-day offer with First Complete member BLR Financial Solutions, for a borrower looking to remortgage their buy-to-let property.

Its second five-day offer was made with Alexander Hall, through the firm’s new distribution partner, Legal & General Mortgage Club.

Amany Attia, chief executive officer at Northview Group, said: “From the very start, we were confident we could deliver on our promise to complete a mortgage offer within five days.

"We are working to transform the way we lend by making the mortgage application faster, clearer and more transparent and consistent for brokers and borrowers alike.

“This milestone is the result of some fantastic work by the team at New Street, and we look forward to seeing many more happy faces in the future as we continue to deliver our fast and transparent service to brokers and their clients.”