A packager has launched that proposes to support brokers around the UK and “restore the sector’s old fashioned values”.
Edinburgh based Thistle Finance calls itself a ‘grass-roots’ packager and is looking to place a particular focus on the specialist lending markets in Scotland and Northern Ireland.
The packager has begun working with Mortgage Advice Bureau and will initially be funded and supported by term broker, Edinburgh Mortgage Advice.
Thistle was co-founded by Edinburgh Mortgage Advice managing director Mark Dyason and Nathan Ellis-Calcott (both pictured) who has worked within specialist lending for over 15 years at companies including Brightstar, Link Lending and The Loans Engine.
Ellis-Calcott has taken on the role of director of Sales and Dyason is managing director.
Thistle will initially focus on specialist areas of bridging, commercial mortgages, development finance, second charge loans, complex residential and buy-to-let and equity funding and joint ventures.
The packager offers a number of exclusive products from a selection of specialist lenders.
Dyason says: “For some time now, the Scotland and Northern Ireland markets have been underserved, both locally and by packagers in the south. It’s this huge gap in the market that we have set out to fill.
“We are clearly thrilled that a company of the calibre of the Mortgage Advice Bureau has already opted to use Thistle for specialist lending in these regions, and we relish the chance to serve its brokers as efficiently and professionally as we can.
“There’s a feeling among brokers that packaging has become glossy and a bit complacent, so our goal is to bring back some old-fashioned values and return it to its roots.”
Mortgage Advice Bureau chief executive Peter Brodnicki says: “Thistle may be new to market but the team has already demonstrated their commitment to the specialist lending sector. We have every confidence that they will add value for our brokers serving Scotland and Northern Ireland. We’re looking forward to the months, and hopefully years, ahead.”