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

Swansea BS completes £25k charity fund with YMCA Cardiff donation

Swansea Building Society has completed an anniversary charity fund with a £3,000 donation to...

AI doesn’t remove bias. It gives us the chance to manage it

One of the great promises of artificial intelligence has always been objectivity. Machines, unlike...

No mandate for automatic cohabitation rights, Deech warns

Proposals giving cohabiting couples automatic rights over homes, pensions and other assets lack clear...

Bristol tops 2026 Japanese knotweed hotspots

Bristol has retained its position as England’s Japanese knotweed capital, recording more than twice...

Marsden passes £100m Guernsey lending milestone

Marsden Building Society has surpassed £100m in mortgage completions in Guernsey through its partnership...

Latest publication

Other news

Swansea BS completes £25k charity fund with YMCA Cardiff donation

Swansea Building Society has completed an anniversary charity fund with a £3,000 donation to...

AI doesn’t remove bias. It gives us the chance to manage it

One of the great promises of artificial intelligence has always been objectivity. Machines, unlike...

No mandate for automatic cohabitation rights, Deech warns

Proposals giving cohabiting couples automatic rights over homes, pensions and other assets lack clear...