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

CAL relocates to larger Woking headquarters to support growth ambitions

Panel management firm CAL has moved to new offices in central Woking as it...

Landbay cuts buy-to-let rates across core and specialist ranges

Landbay has reduced rates by up to 20 basis points across its Core and...

Interest-only lending evolves as later life borrowing grows, says Phoebus

The continued decline in interest-only mortgage balances reflects a healthier market and changing borrower...

Firms face growing challenge in verifying business ownership

More than half of regulated firms are struggling to identify the individuals who ultimately...

Nomo joins Paradigm panel to expand access to GCC property investors

Shariah-compliant property finance provider Nomo has joined the lender panel of Paradigm Mortgage Services,...

Latest publication

Other news

CAL relocates to larger Woking headquarters to support growth ambitions

Panel management firm CAL has moved to new offices in central Woking as it...

Landbay cuts buy-to-let rates across core and specialist ranges

Landbay has reduced rates by up to 20 basis points across its Core and...

Interest-only lending evolves as later life borrowing grows, says Phoebus

The continued decline in interest-only mortgage balances reflects a healthier market and changing borrower...