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Paradigm adds New Life
17 June, 2008
Paradigm Mortgage Services has added New Life Mortgages to its preferred equity release panel.
New Life joins a range of lifetime mortgage and home reversion plan providers that can be accessed by Paradigm’s associate and partner members.
New Life’s range of lifetime mortgages includes:
• New Life Gold - offers high LTVs for all ages from 55 and above.
• Standard Lifetime Fix - carries slightly lower LTVs but also a slightly lower interest rate.
• Flexible Lifetime Mortgages - gives the option of a drawdown portion to be taken either as ten fixed annual instalments (the Fixed Drawdown Option) or on a completely flexible basis at the customer's discretion over a 10-year period (the Open Drawdown Option).
New Life also provides mortgage products on properties, other than the client’s main residence. This includes Landlord Loans, Holiday Home Loan and Second Home Lifetime Mortgage – these products provide opportunities for property investors, for all ages from 55, to release equity from their properties without involving the principal residence. Paradigm members will also be able to source these products via New Life’s panel arrangements.