Salt proves its value to parent

Specialist lending division Salt has revealed that it contributed over 70% of parent lender the Derbyshire\'s 2bn mortgage lending in 2006.

In the Derbyshire’s 2006 results, the society reported 1.86bn in gross mortgage lending, a 33.8% increase on 2005. 1.3bn came from Salt.

The society says these results show that the core society and Salt have worked together well.

Salt also says its commercial lending arm has made a good start since it was launched last November – an area it hopes to expand in 2007.

Brian Carney, managing director of Salt and specialist lending director of the Derbyshire, says: “The outlook for specialist lending is exciting. We will continue to significantly grow assets and the profitability of the group through Salt’s retail and commercial operations.”