Salt delays online proposition
The service was due to go live mid-April but it has delayed the launch so it can complete its preparations and make sure it is ready to offer a good service to brokers.
Tony Capon, head of sales at Salt, said: “We are waiting until June so we can complete the training and make sure the set-up is right as we don’t want to go direct-to-broker and not have the service in place.
“Initially, we will be going exclusively through selected distributors and then from July onwards, it will be available to all mortgage intermediaries.”
Salt has also maintained its links with the packaging community and c2-financial has become the first packager to be added to its panel, which currently has six members.
Its products will be available through c2 from 15 May and it will also be listed on the packager’s signature product ranges, c55 and c75.
David Wylie, managing director of c2-financial, said: “We are delighted to team up with Salt. It has an attractive range of products and working with a non-conforming lender with building society links will bring benefits as some customers may be drawn to that.
“The products will come with some added extras, such as free valuations, £55 application fee and an enhanced proc fee. We are currently looking at the banding for this and, where the margins will allow, we will either equal or better the best proc fees around.”
The addition of c2 to Salt’s panel will be the first of up to six packager tie-ups the lender is currently negotiating.
Capon said: “We are concluding negotiations with a number of packagers and c2 are the first of the initial expansion. We are looking to have a panel of between ten and 12 in place in the near future.”