Buy to let will solely be lent under the Kensington brand from 24 July and new applications for New Street will no longer be accepted from that date.
There will be no redundancies at the brand and features and products of the New Street products will be incorporated into Kensington’s proposition.
Northview has seen many strategic changes in the last three months, including higher loan to values, a limited company buy-to-let range and increased investment in its underwriting and sales teams.
Craig McKinlay, head of sales and marketing, Kensington Mortgages said: “We believe simplifying our distribution strategy by focusing on Kensington’s award-winning buy-to-let offering is the best approach going forward. As a top UK specialist lender, we have responded to the recent changes in the BTL market and this move allows us to provide a simple, easy to use service for our brokers and customers alike.
“For brokers who have any queries on their New Street accounts, please visit the New Street website to be kept up-to-date on recent announcements.”