Paradigm Mortgage Services has announced that BuildLoan, the provider of construction-based finance, has been added to its mortgage club panel.

Paradigm member firms can now use BuildLoan to source help and guidance, and to find the most suitable financial solutions for their homebuilding clients.

BuildLoan provide tailor-made solutions for those clients who are seeking to self-build, renovate, convert, custom build, improve, knockdown and rebuild, on projects of all scales, whether the client is looking to let or sell.

BuildLoan provide exclusive products via its own lender panel and have a range of features to offer including:

• Higher lending percentages – up to 85% on land/property with outline planning and up to 85% on build costs.
• No need to sell current home – first clients can stay in their existing home as they build their new one due to enhanced cash position offered.
• More money earlier – particularly useful in the case of timber frame kits where the client is required to pay for their kit early.
• Advance stage payments or traditional arrears stage payments.
• Interest-only available during the build to further improve cashflow.
• Overpayments allowed without penalty.

John Coffield, head of Paradigm Mortgage Services, said: “We are very pleased to be announcing this new relationship with BuildLoan, who are the key operator in terms of construction-based finance, and have been helping thousands of clients over the past two decades. Many more people are looking to build their own homes or carry out major renovation projects and, given this is a specialist area which requires specialist know-how, it makes perfect sense for Paradigm member firms to utilise the experience of BuildLoan on behalf of their clients.

“These are not projects you can ‘muddle through’ with and therefore it pays to have clients placed with an operator that understands this market, what can and can’t be achieved, and the requirements that go with it. We’re looking forward to working closely with the BuildLoan team and would urge all Paradigm firms to visit our website to find out further information on how they can help their homebuilding clients.”

Rachel Pyne, operations director at BuildLoan, added: “We’re really pleased to be joining the Paradigm mortgage club panel, demonstrating Paradigm’s desire to service their members within this specialist sector. This is a rapidly growing market, brokers need the expertise provided by our specialist service to give clients the best possible solution.”