Metro adds Paradigm

Robyn Hall

May 2, 2013

Metro is currently in the process of growing its distribution and reach into the mortgage market.

Bob Hunt, chief executive of Paradigm Mortgage Services, said: “The fact that we have been chosen as one of Metro Bank’s directly authorised intermediary distribution partners is testament to both the strength of our proposition and the calibre of our directly authorised members.

“It is also a sign that Metro Bank acknowledges not only the quality of business our brokers submit, but also the type of business given its focus on larger loan sizes.

“We are always evaluating our panel of lending partners to ensure breadth and depth and in this instance it is positive that we are able to offer our brokers an exclusive option that their counterparts elsewhere don’t have.

“Metro Bank may be relatively new on the lending scene but it has already forged a solid reputation for flexible underwriting and tailored service both of which are vitally important to borrowers in the current climate.”

Metro Bank is based in London and the South East, and its reach for mortgages includes parts of southern England reaching Kent, Berkshire, Oxfordshire, Hampshire and West Sussex.

Richard Saulet, director of mortgages at Metro Bank, said: “Metro Bank is dedicated to building a long term and highly successful intermediary partnership with Paradigm.

“We’re focused on providing brokers and their customers products designed entirely around their needs, as well as amazing service and convenience.

“We offer common sense banking with the personal touch and our individual underwriting service means that we can work on a case by case basis with brokers to find the right solutions for customers.”

The link up comes in the wake of reports from Sky News that Metro Bank has lost more than £100m in just three years.

Sky revealed that the bank lost £45.7m before tax in 2012 and a further £8.8m in the first quarter of this year alone.

On Friday Metro will open a branch in Slough in Berkshire with drive-through facilities as it tries to introduce new ways of doing business.

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