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The new lender, which has seen strong growth in the broker channel, is now available to Finsure members.
Aggregator Finsure Group (Finsure) has revealed that non-bank lender Salt&Lime has been added to its lending panel.
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The debt consolidation lender offers rate discounts to borrowers when they complete financial education modules.
The new lender stated its loans provide brokers a “socially responsible option in building long-term relationships with clients and helping them through their financial lives”.
Finsure chief executive Simon Bednar stated that the lender was a welcome addition to its growing broker network and would enhance the aggregator’s asset finance offering through its secured vehicle finance and personal loan products.
Mr Bednar said: “We’re delighted to welcome Salt&Lime to the Finsure lending panel. What makes Salt&Lime so unique is they are all about helping their customers improve their financial literacy and wellbeing with a socially responsible approach to lending.”
Head of diversified partnerships at Finsure, Damien Thompson, said the aggregator was pleased to be adding a finance partner of Salt&Lime’s stature and labelled their approach to lending as a “game changer in this space as they empower their customers to pay down their loans quicker through incentives for interest rate reductions”.
He said: “They have also compiled short online modules that, once completed by the customers, will trigger a discount of their loan. This results in happy, better educated, and more engaged customers.”
Salt&Lime head of distribution Mark Woolnough said the lender was pleased to join the lending group for Finsure’s brokers.
He said: “With such a transparent and customer-centric approach, we’re delighted to be welcomed onto the Finsure Group lender panel and become an option of confidence for more brokers, safe in the knowledge their customers will be supported with their financial wellbeing.”
Mr Woolnough added that the lender’s strategy was focused on helping residential mortgage brokers to build long-term relationships with their clients over their “financial life cycle”.
He said: “We offer the broker’s client a transparent, socially responsible product with their best interest at the core. At Salt&Lime we believe this best interest includes the client’s financial education, health, and wellbeing.”
Over 95 per cent of the lender’s new business is coming through the broker channel with a focus on secured personal loans.
The former CoreLogic and ING executive continued: “Brokers have been looking for a socially responsible and transparent lender to help clients who have faced challenges with credit scores due to having a shorter credit history, had borrowing from high-risk lenders, made late payments or have made multiple credit card/loan applications.
“Over my 20 years plus history in the industry I know the majority of residential mortgage brokers share our view that people should be able to access clear, transparent and socially responsible credit and this is why Salt&Lime is such a good fit.”
Mr Woolnough joined Salt&Lime earlier this year to further build Salt&Lime’s broker offering, after having previously worked at CoreLogic and ING.
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