Society may advise on mortgages

The Derbyshire says it may launch an independent financial advice service for mortgage products following the unveiling of Derbyshire IFS last week.

The IFS service offers independent whole of market advice on protection products, savings and investments, and also guidance on Inheritance Tax planning.

But Mark Blackwell, marketing manager at The Derbyshire, says the society could offer a similar service for mortgages.

He says: “We have no plans for this at the moment but we could look at offering a similar service for mortgages, although we would have to recruit different advisers to work in that area.”

The society plans to recruit up to 80 advisers following the successful entry into the market of specialist lender Salt.

The IFS launch follows depolarisation in the financial services industry which means authorised financial advisers can be tied to sell products and services from a single provider, multi-tied to represent a panel of providers or independent so they can offer products, advice and services from all providers.

The society was previously tied to Norwich Union but will now offer whole of market advice through subsidiary Derbyshire IFS.

The IFS service was unveiled by England’s World Cup-winning goalkeeper Gordon Banks.