Speaking to Specialist Lending Solutions, Adrian Moloney (pictured), group intermediary director at OSB Group, said: “We’ve already had significant numbers register to the platform. What we did over the past couple of weeks is we did a pre-registration campaign, so people were able to register in advance, so they’re ready to go.
“Also, as we put the other brands onto the platform, when you register now with Rely, it will mean you don’t have to re-register when we bring the Precise brand… onto the platform. So, it’s really good, really quick registration.”
Rely launched to the whole of the market earlier this week, with OSB Group saying it will be the “dedicated buy-to-let powerhouse” within the group.
Earlier this year, Specialist Lending Solutions exclusively reported that the new specialist BTL brand would be launched and that this would come amid a restructure of its brand specialisms. Precise will focus on residential and bridging business, while Interbay will focus on commercial.
Moloney said the pilot had allowed the firm to test the whole process, and there were some minor tweaks and additions made to the platform.
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He said the brand can cater to a wider range of buy to let (BTL), whether that is single BTL or portfolio landlords. Moloney pointed to a £6.2m portfolio landlord case with Dynamo during the pilot as an example.
“The feedback about how the branding looks, that fresh approach, has been really pleasing. We’re full steam ahead. We’re getting more brokers onto the platform right through with our network and club partners and there are exciting times ahead,” Moloney said.
‘Everything is on track’
Jon Hall, group managing director for mortgages and savings at OSB Group, said “everything is on track”, pointing to recent loan book growth in its Q3 results, which was in BTL but also commercial, bridging and residential lending.
“For us, that kind of diversified and blended approach is absolutely what our strategy is, and the teams are doing a fantastic job of managing that,” he added.
Looking ahead at strategy for the coming year, Hall said it was planning to grow Rely in the first part of next year.
Then it has changes planned for its residential brand, Precise, focusing on the proposition, and in the second half of the year, it aims to bring Precise onto the new platform.
“From that perspective, we’ll then have the new platform for BTL and residential through two brands. That’s where our focus is next year,” he said.
