New packager Thistle Finance launches

Thistle will offer support to brokers around the UK, particularly in the undeserved markets of Scotland and Northern Ireland.

The grass-roots packager has started working with Mortgage Advice Bureau (MAB) – as an additional option alongside Brightstar – for specialist lending in Scotland and Northern Ireland.

The new packager will initially be funded and supported by the broker Edinburgh Mortgage Advice.

The two co-founders of Thistle Finance are Mark Dyason, managing director of Edinburgh Mortgage Advice (pictured above), and Nathan Ellis-Calcott, who has worked within specialist lending for over 15 years, including roles at Brightstar, Link Lending and the Loans Engine.

Mark will be the managing director of Thistle Finance, while Nathan will be the director of sales.

Thistle Finance is a whole-of-market broker and will initially focus on the following six areas:

• bridging finance
• commercial mortgages
• development finance
• second charge loans
• complex residential and buy-to-let mortgages
• equity funding and joint ventures.

The packager will launch with a number of exclusive products from a range of specialist lenders, as well as offering a second charge proposition which it claims will have a lower fee structure than elsewhere on the market.

“For some time now, the Scotland and Northern Ireland markets have been underserved, both locally and by packagers in the South,” said Mark.

“It’s this huge gap in the market that we have set out to fill.

“We are clearly thrilled that a company of the calibre of the Mortgage Advice Bureau has already opted to use Thistle for specialist lending in these regions, and we relish the chance to serve its brokers as efficiently and professionally as we can.

“There’s a feeling among brokers that packaging has become glossy and a bit complacent, so our goal is to bring back some old-fashioned values and return it to its roots.”