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

Financial services firms sign skills pact ahead of Chancellor’s Mansion House speech

More than 20 financial services organisations have signed a new agreement with government aimed...

Brilliant Solutions partners with Box Socials

Brilliant Solutions has partnered with Box Socials to give its members discounted access to...

Mortgage rates fall at fastest pace in almost two years

Fixed mortgage rates have recorded their biggest monthly reductions for almost two years, as...

Solo first-time buyers face almost a decade of saving before they can buy

Solo first-time buyers face saving for almost a decade before they can afford to...

Redwood Bank strengthens underwriting team with senior appointment

Redwood Bank has appointed Omkar Hushing as senior underwriting manager as it continues to...

Latest publication

Other news

Q&A: Claire Cherrington, PMS and Bankhall

Mortgage Soup fires the questions at Claire Cherrington, director of PMS and Bankhall. Mortgage Soup...

Financial services firms sign skills pact ahead of Chancellor’s Mansion House speech

More than 20 financial services organisations have signed a new agreement with government aimed...

How brokers can secure better client outcomes in a volatile market

Experience has always counted in the mortgage market. Brokers who worked through the financial...