Mis-sold Mortgage Claims > Mortgage News
Specialist lending in the spotlight as Brightstar Financial look to launch
Fri, 07 Jan 2011
It has been reported that a new specialist lending distributor is to launch shortly. Brightstar Finance will be run by former Savills Lending Solutions managing director, Rob Jupp. This high profile news will be of interest to specialist lenders who are still trading. Jupp is a most respected industry individual and has been successful in previous ventures during the sup-prime lending boom.

There has been a significant downturn in this sector over recent years as the full impact of the financial crisis in the mortgage sector was felt. There have been some new entrants to lending in 2010; these will want to originate through trusted and controlled distributors who were often referred to as mortgage packagers . Jupp has also been responsible for driving a regulatory code of conduct to ensure that customers are treated fairly by intermediaries .

The sup-prime and specialist sector has seen many lenders withdraw from the market and ceased trading. Industry reaction to the news has been generally welcomed, however, some will see Jupp’s venture as a threat to their own business in what has become a far smaller market.

One commented, "It a difficult time for any new entrant to the market for the foreseeable future, in particular if you have a mortgage led proposition. This was demonstrated by Savills exit from the market in 2010."
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