Premium finance provider Premium Credit is launching Broker Acquisition Finance, a subsidiary providing a range of policies for acquisitive intermediaries.

Head of sales Cris Jackson said: "It is not just a loan product. We will look at equity release and other bespoke solutions.

"There is a huge amount of consolidation going on and brokers are looking to take advantage of this."

The new subsidiary will sit alongside the existing premium finance offering.

"The maximum loan amount will be £1m and the company is saying there are no restrictive terms of hidden charges."

'Premium Credit has appointed three former Singer & Friedlander sales staff in a bid to grow business across the UK.

Mark Winder joins as business manager for the southern region, Trevor Perrin joins as business manager for the northern region and Lynn Denby joins as business manager for the South West.

A spokesman said: "We have seen a 19% increase in cases financed in 2005 compared to 2004.

"With our market share of the third party premium finance market (now 60% versus 52% in 2004), together with a host of new product launches scheduled for 2006, we need more business managers to support the business."