Hinckley & Rugby will work closely with Paradigm Mortgage Services to bring the society’s tailored mortgages to the club’s directly authorised brokers and their customers.
Niche cases are ideally suited to Hinckley & Rugby’s approach to working with brokers, which includes manual underwriting, no credit scoring and daily meetings of senior decision makers to look at individual applications.
Emily Smith, national account manager at H&R for intermediaries, said: “We’ve been on Paradigm’s panel for a while but now both want to take this relationship to the next level.
“Paradigm is a large, award-winning club and we believe our points of difference in the market are ideally suited to those cases where careful consideration of the circumstances will mean we will choose to lend to Paradigm members’ clients when other lenders would decline.
“I am committed to bringing our can-do lending to Paradigm members across England and Wales, with my business development managers Aran Aujla and Georgia Betteridge focused in particular on the East and West Midlands.”
Hinckley & Rugby’s partner intermediaries can submit niche cases including: interest-only downsizing with no minimum income; minor credit blips; buy-to-let rental shortfalls supported by personal income; joint borrower sole proprietors to 95% LTV.
They can also submit new build houses and flats to 90% LTV; and there is no maximum age at application or term end for residential and buy-to-let.
John Coffield, Paradigm’s head of mortgages, added: “Having worked with the team at Hinckley & Rugby for some time, we are well aware of the quality of the mortgage proposition, particularly in terms of those borrower niches which are becoming so much more important in today’s marketplace.
“Advisers want to work with lenders able to consider borrower circumstances outside the ‘mainstream’ and, as a mortgage distributor, it’s vitally important we can work with these businesses and provide a bridge between them and our members.
“A tailored offering is crucial and we are certainly looking forward to growing our relationship with Hinckley & Rugby to help develop their offering to our member firms.”
H&R for Intermediaries will be attending two of Paradigm’s mortgage masterclass events in 2019, where the club’s members can get to know the building society’s team face-to-face.