“Norwich and Peterborough has developed a strong position in the introduced mortgage market,” says John Wilcock, product and marketing director for Astra Mortgages. “However, as we were fast approaching our internal buy-to-let limits, we decided to launch a brand dedicated to the sector through the introduced mortgage market.
“When developing the brand name we worked through a number of stages of development to ensure that the end result had stature, salience and stood out against the competition,” Wilcock adds. “It also needed to be memorable for the target audience, resonate with them and be reflective of our brand values and offering.
“The brand identity is crucial as it needs to reflect all of this and provide brokers with a link back to N&P, a brand they already trust and associate with good service.”
The name Astra moved the company away from the confines of a regional brand name, says Wilcock.
“It’s contemporary and forward-thinking,” he adds. “It has the confidence you’d expect of a business that is the first to launch Basle II pricing in Europe, which means higher quality business will benefit from lower interest rates.”