Derbyshires specialist lending brand Salt is to be unveiled on November 14.
Salt will initially focus on sub-prime and sub-prime self-cert lending as well as developing simple solutions for the buy-to-let sector and other specialist niche markets. The brand proposition has been based upon extensive research with brokers and the wider intermediary marketplace.
Salts main aim will be to offer innovative, straightforward, no-nonsense products with no hidden complications.
The brand will be established through a controlled entry into the marketplace with products distributed exclusively through a carefully selected panel of packagers, including Solent Mortgage Services, Abacus, M2d&p, Praxis, Beacon and Pink Homeloans.
As Salt develops, more packagers will be invited onto the panel and early next year it will offer a direct to broker online mortgage application service.
From launch, Salt will be able to offer robust, fully credit scored decisions in principle, so brokers and applicants will know where they stand from the outset. The Salt website will also provide quick and easy access to Key Facts Illustrations and online DIPs within minutes.
Tony Capon, head of sales at Salt, says: “Our Salt proposition has been fully based upon extensive research with brokers, fully recognising the value that brokers bring to the market.
We asked, we listened, we acted and we aim to deliver their crucial requirements of clear, quick decisions, the need to stick to those decisions, access to underwriters, competitive pricing and trust, all of which are key to Salt.
The right people have been carefully recruited into our sales and underwriting teams at Salt to ensure we have the right blend of experience, skills and expertise needed to meet the challenging demands of the sub-prime markets.
With a developing market needing a wider choice of product and service options, Salt will set itself apart on simplicity, speed and communication. We aim to be a significant player in the market.