Derbyshire Group plans to expand

The Derbyshire Group, which launches its specialist lending brand Salt today, plans to expand into commercial lending and make at least one acquisition in the next year.

But it has ruled out acquiring a building society and will instead look at acquiring firms that complement its processing and distribution channels. Salt will initially focus on sub-prime and sub-prime self-cert, as well as buy-to-let and other specialist niche markets, and will be distributed exclusively through a panel of packagers before going direct through brokers. It also plans to have a full application online facility operational by next year.