Paradigm secures access to Newcastle Intermediaries’ large loans proposition
Paradigm Mortgage Services has secured access to Newcastle Intermediaries’ large loans proposition for mortgages over £500,000 so Paradigm member firms can access these products from today.
These include 2-year fixes currently priced at 2.37% (60% LTV), 2.43% (75% LTV) and 2.47% (80% LTV), and 5-year fixes priced at 2.99% (60% LTV), 3.05% (75% LTV), and 3.08% (80% LTV).
John Coffield, head of Paradigm Mortgage Services, said: “Paradigm advisers often deal with a large number of clients seeking large loans so it is extremely pleasing to be able to now offer them access to the Newcastle Intermediaries’ proposition.
“These deals are highly competitive and come with a significant degree of broker support so our firms should be confident that they, and their clients, will be looked after throughout the whole process.
“We believe there will be a significant degree of interest in this product offering and we’re looking forward to working with the Newcastle to ensure our member firms benefit from this quality offering.”
The Newcastle large loans proposition includes interest-only mortgages available up to 75% LTV, with up to 5.75 affordability multiples, consideration of 100% bonus/overtime.
There’s bespoke products available at 60/70/80% LTVs and the maximum LTV between £500,001-£1m is 80%; between £1,000,001 and £1.5m is 75%.
There is direct access to underwriters and dedicated case ownership and loans are available over £500000, up to a maximum of £1.5m.
Steve Carruthers, head of mortgage distribution, Newcastle Intermediaries, said: “Following our addition to Paradigm’s lending panel earlier this year, we’re pleased to announce the introduction of our large loan range to our core offering.
“This introduction demonstrates our commitment to supporting our intermediary partners, like Paradigm, and our dedication to the intermediary mortgage market.
“We’re also committed to supporting our large loan customers, offering them both flexibility and choice. Our underwriters consider affordability on a case-by-case basis and we’re confident that through Paradigm we will help more advisers meet the needs of their customers.”