H& R for Intermediaries is to work closely with Paradigm Mortgage Services to bring the Society’s tailored mortgages to the club’s directly authorised brokers and their customers.
Niche and extraordinary cases are ideally suited to H&R’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.”
H&R’s partner intermediaries can submit cases in niches 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 per cent LTV; new build houses and flats to 90 per cent LTV; and there is no maximum age at application or term end for residential and BTL.
John Coffield, Paradigm’s head of mortgages, said: “Having worked with the team at the H&R 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 those lenders who are 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 H&R 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.