Derbyshires specialist lender Salt is expanding into the direct to broker market through Premier Mortgage Service and Mortgage Promotions.
Salts product range had only previously been available through packagers and the move is part of a strategy to open itself up to the wider market.
The service will be available through an online intermediary proposition, with full decisions-in-principle and application facilities available.
Since its launch in November last year, Salt has distributed its products exclusively through a carefully selected panel of packagers but has recently widened its distribution by adding C2 Financial to its panel.
Salt will look to add further packagers following its direct-to-broker launch.
Brian Carney, managing director of Salt, says: Our partnership with Premier Mortgage Service and Mortgage Promotions two of the most respected and quality distributors in the marketplace – is key to our expansion into the direct to broker market.
We have maintained that a controlled entry to whole of market is the only way to credibly deliver a compelling specialist lending intermediary solution.
Salts aim from the start has been to offer innovative, straightforward and no-nonsense products with no hidden complications.
John Malone, managing director of Premier Mortgage Service, says: We are delighted to be one of the first mortgage distributors to offer the Salt proposition direct to the intermediary. This further enhances Premier Mortgage Service’s Go Direct campaign, allowing intermediaries to submit business directly to their chosen non-conforming lender whilst retaining competitive fees.
Nick Baxter, director of Mortgage Promotions, says: “The specialist market is more competitive than it’s ever been and we’ve very excited to be able to offer Salt’s products direct to market.