Salt Finance, the lending subsidiary of Derbyshire Building Society, has confirmed it is withdrawing from the residential intermediary market as of today.
The future of Salt has come under scrutiny following the takeover of Derbyshire and Cheshire building societies by Nationwide, a move which is still awaiting FSA and Office of Fair Trading (OFT) approval. On Wednesday, Nationwide said that, while it will keep both brand names, it will not be taking on the intermediary business of either company. Salt Finance currently offers retail and commercial mortgages as well as buy-to-let deals. A message on the company’s website reads: “Salt has announced its withdrawal from the residential intermediary market and is no longer accepting DIPs for n...
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