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Salt withdraws all residential products

Salt has withdrawn all residential products as a result of unprecedented business volumes over the last 24 hours.

A statement from Salt, a subsidiary of Derbyshire, says: “Current market conditions have resulted in a number of lenders withdrawing products. This has resulted in an increased appetite for our products and a corresponding record number of applications.

“We pride ourselves on our service and such high volumes have inevitably impacted our ability to maintain service levels and deal with current pipeline.”

Yesterday the lender announced it will be launching a range
of residential and buy-to-let products on April 7.

It says this will go ahead and that more information will be available shortly.

Any applications that have not been given a decision in
principle on receipt of this e-mail will not be accepted and brokers have until 6pm today to submit applications.


Weighing up the benefits of grants

Continuing my theme of grants from last week, I’d like to remind readers of the Financial Services Authority’s requirements when considering the suitability of equity release transactions.

We’re never too experienced to learn

I’ve been inducted into a new network and the training I have received will hold me in good stead during the difficult times ahead for the mortgage industry, says Sue Read

PMS Q1 completions down 20%

Mortgage Strategy can today unveil the full extent of the credit crunch with news that completions at Premier Mortgage Service plun-ged 20% in Q1 compared with the same period last year.


White paper — Dubai International Insights

Jelf Employee Benefits discusses the legislative changes in Dubai, available medical facilities and policy considerations for employers with expatriate workforces in the country. This edition will be of particular interest to global human resource directors, compensation and benefits specialists and mobility managers who have employee populations in Dubai, or are considering operating there in the near future.


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