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

ModaMortgages trims limited-edition five-year fixed rates

ModaMortgages has reduced rates by up to 10 basis points across its limited-edition five-year...

Providence agrees deal to acquire Hometrack

Providence Equity Partners has agreed to acquire Hometrack, the residential property valuation and risk...

The Coventry cuts fixed rates by up to 20bps

Coventry for intermediaries has reduced every fixed-rate mortgage in its range, with lower rates...

Family BS appoints Kirsty Dancer as Midlands BDM

Family Building Society has appointed Kirsty Dancer as business development manager for the East...

Atom bank cuts Prime and Near Prime mortgage rates

Atom bank has reduced rates across its Prime and Near Prime mortgage ranges. All Prime...

Latest publication

Other news

ModaMortgages trims limited-edition five-year fixed rates

ModaMortgages has reduced rates by up to 10 basis points across its limited-edition five-year...

Providence agrees deal to acquire Hometrack

Providence Equity Partners has agreed to acquire Hometrack, the residential property valuation and risk...

The Coventry cuts fixed rates by up to 20bps

Coventry for intermediaries has reduced every fixed-rate mortgage in its range, with lower rates...