Astra Mortgages has not seen a fall in new business

Astra Mortgages, which was laun-ched on 10 March as the broker brand of Norwich and Peterborough, says there has been no let-up in its volume of new business.

Graham Toy, managing director of Astra, said: “The good news is that 35% of new applications received since we launched has been successfully processed via our point-of-sale decision-making process.

“We’ve had a lot of interest in our 5.58% 10-year fixed product which has been quoted as a best buy in national newspapers.

He added: “The risk quality of applications is high and while it’s too early to be sure, there’s a sense brokers are routing their better deals through our POS-D system.

“An integral part of our pro-position has been the launch of this system, which gives decisions in 15 minutes but rates for risk, offering lower rates to lower risk customers.”