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

AR market consolidates as revenues rise despite fewer principal firms

The UK's appointed representative market is becoming more concentrated, with fewer principal firms overseeing...

Hodge broadens property lending criteria across residential ranges

Hodge Bank has expanded its property lending criteria, widening access to mortgage finance for...

GCC searches for UK homes rise 16%

Searches for UK residential property from Gulf Cooperation Council (GCC) investors increased by 16%...

Mortgage market still failing to understand freelancers

The mortgage market has yet to fully adapt to the growth of freelance and...

Hidden costs top Gen Z homebuying fears as millennials focus on repair bills

First-time buyers’ concerns are shifting significantly by age, with younger buyers focused on upfront...

Latest publication

Other news

AR market consolidates as revenues rise despite fewer principal firms

The UK's appointed representative market is becoming more concentrated, with fewer principal firms overseeing...

Hodge broadens property lending criteria across residential ranges

Hodge Bank has expanded its property lending criteria, widening access to mortgage finance for...

GCC searches for UK homes rise 16%

Searches for UK residential property from Gulf Cooperation Council (GCC) investors increased by 16%...