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

Yorkshire BS team raises £1,000 with 198km treadmill challenge

Seven Yorkshire Building Society colleagues have completed a 198km treadmill ultramarathon to raise money...

The Monmouthshire expands mortgage platform pilot to more intermediaries

Monmouthshire Building Society has widened the intermediary pilot of its new mortgage origination platform,...

The Cambridge adds 98% LTV five-year fix for first-time buyers

Cambridge Building Society has widened access to its First Step range with a 98%...

Monicio targets mortgage admin burden with AI-powered CRM

Mortgage technology provider Monicio has launched an AI-powered CRM designed to automate administrative work...

HSBC eases new-build part-exchange criteria

HSBC has changed its residential lending criteria for new-build buyers who part exchange their...

Latest publication

Other news

Yorkshire BS team raises £1,000 with 198km treadmill challenge

Seven Yorkshire Building Society colleagues have completed a 198km treadmill ultramarathon to raise money...

The Monmouthshire expands mortgage platform pilot to more intermediaries

Monmouthshire Building Society has widened the intermediary pilot of its new mortgage origination platform,...

The Cambridge adds 98% LTV five-year fix for first-time buyers

Cambridge Building Society has widened access to its First Step range with a 98%...