Paradigm Mortgage Services has announced that Bluestone Mortgages has been added to its lender panel.

Bluestone offers mortgages to all types of borrowers and has products for the self-employed – with only one year trading history, day one contractors, and those who have experienced credit problems in the past.

Borrowers’ CCJs/defaults of under £250 are ignored, even if they are within the last three months, while Bluestone also offers a specific IVA/bankruptcy range. The lender will also lend to up to four applicants per property and uses all their income in its affordability calculation.

Bluestone does not credit score and offers advisers direct access to its underwriters in order to discuss potential and existing cases.

In order to begin working with Bluestone, advisers will need to complete an online registration form, and the lender commits to setting up the agency within 48 hours.

John Coffield, head of Paradigm Mortgage Services, said: “Given the specialist needs of many borrowers, the UK lending landscape needs lenders who are willing to look at individuals on a case by case basis, to take real account of their unique circumstances, and to appreciate how these might not fit traditional, vanilla lending operators.

“In areas such as mortgages for the self-employed and contractors advisers and their clients have been underserved as have those with minimal arrears/defaults.

“It is therefore a real positive to have a relatively new lender like Bluestone working in these areas and committed to a service which truly focuses on affordability and has a product offering which is specialist through and through. We are sure that Paradigm members will want to embrace working with Bluestone, particularly as we continue to see a rise in mortgage demand from such clients. This is all about ensuring we have product fits for all types of borrowers and we are certainly looking forward
to working with the team at Bluestone to help develop its proposition in these areas and beyond.”

Steve Seal, director of sales & distribution at Bluestone Mortgages, added: “We are delighted to announce our latest distribution partnership with Paradigm Mortgage Services. We believe Paradigm shares our views in supporting customers that are underserved by high-street lenders, particularly those who are self-employed, have variable incomes or have had credit problems. We’re looking forward to working closely together.”