Paradigm in ‘complex prime’ move

Published on

Paradigm Mortgage Services, the mortgage partnership proposition, has embarked on an exclusive strategic partnership with Platinum Options, a firm specialising in the placement and packaging of ‘Complex Prime’ mortgage cases.

Hertfordshire-based Platinum offers intermediaries access to lending solutions from a small lender panel who look for prime borrowers that currently fall outside automated credit/risk-scoring structures. Platinum currently has three small lenders on panel with a further two waiting to join, whilst it also has links to a range of private banks and bridging companies.

Platinum Options wants prime business where the borrower is able to prove income/affordability and has no mortgage arrears. These cases are often pushed into the ‘Complex Prime’ bracket as a result of a default, CCJ or some other form of adverse history. The cases are priced according to risk by the Platinum lender panel with margins added above their normal rates and/or fees charged accordingly.

Bob Hunt, chief executive of Paradigm Mortgage Services, said: “As we exit recession

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Skipton brings brokers and developers together to drive sustainable housing agenda

Skipton Building Society has brought together brokers, developers, and sustainability specialists at its head...

Foundation Home Loans expands residential range and cuts rates

Foundation Home Loans has announced a series of rate reductions and product enhancements across...

ColCap and Molo complete £300m buy-to-let securitisation

ColCap Financial and digital mortgage lender Molo have completed their second securitisation under the...

West Brom cuts mortgage rates to aid first-time buyers and remortgagers

West Brom Building Society has reduced rates across its core two-year and three-year mortgage...

Paragon promotes quartet as dev finance division expands reach

Paragon Bank has announced several promotions within its development finance division as it looks...

Latest publication

Other news

Skipton brings brokers and developers together to drive sustainable housing agenda

Skipton Building Society has brought together brokers, developers, and sustainability specialists at its head...

Foundation Home Loans expands residential range and cuts rates

Foundation Home Loans has announced a series of rate reductions and product enhancements across...

ColCap and Molo complete £300m buy-to-let securitisation

ColCap Financial and digital mortgage lender Molo have completed their second securitisation under the...