CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Paradigm hits £3.45 billion of mortgage completions in 2015
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Paradigm hits £3.45 billion of mortgage completions in 2015 PDF Print E-mail
Monday, 18 January 2016

Paradigm Mortgage Services, the mortgage services proposition, has today (18th January 2016) announced its members placed £3.45 billion of mortgage completions through the distributor in 2015, a year-on-year increase of 29%.


The volume of mortgage business came from a variety of mortgage product sectors with notable mentions for buy-to-let sector, which accounted for a third of all completions, and new-build business, which accounted for 11%.

Paradigm is targeting an increase in buy-to-let business from £1.15 billion last year to £1.6 billion in 2016.

The business believes its focus on high-quality firms generating top-quality business has contributed to both its membership growth and its improved performance. Paradigm’s average mortgage case size during 2015 was £191.5k and the average LTV was 62%.

The number of Paradigm member firms now stands at 915 with 179 new members joining through 2015. By the end of 2016 Paradigm aims to grow membership to over 1,000 DA firms.

Paradigm’s plans for 2016 include a continued focus on ensuring member firms are ready and prepared for the Mortgage Credit Directive (MCD). All Paradigm workshops, taking place around the country, include up to date information and ongoing support for member firms to ensure their ongoing compliance. There are also product and criteria-specific mortgage and protection workshops taking place during 2016.

Bob Hunt, Chief Executive of Paradigm Mortgage Services, commented: “2015 was another strong year for Paradigm, particularly in the mortgage sector where we crossed the £3 billion mark by some margin. The ongoing improvement in our performance came off the back of £2.67 billion of mortgage completions in 2014, in itself an increase of 44% over 2013’s figures. The upward trajectory of our mortgage completion figures is therefore very pleasing and it means we are targeting £4billion-plus in 2016.

“Significantly, a third of our completions came in the buy-to-let sector, and while there may be a degree of uncertainty about how this market will play out in 2016, we are confident we will increase our numbers in this space. There are clearly a number of unknowns in terms of how landlords will react to the stamp duty changes and the cut to mortgage interest tax relief which kicks in from next year, however we are confident demand will remain strong and that the market will find its new ‘normal’ quite quickly. We are already seeing the sector adapt with greater use of limited company vehicles to house and purchase properties, and we fully anticipate more lenders becoming active in this area.

“Overall, the focus of Paradigm Mortgage Services since our launch in 2007 has been on the quality of our proposition, member firms and relationships, and this will remain the case. DA firms join us because we are the number one choice for those businesses that place the highest quality client relationships at the heart of what they do; our mortgage lender and other provider partners have come to expect high standards of business and we believe they engage with us because we offer a controlled channel of high-quality DA firms. Ultimately, our ongoing aims are to continue delivering this quality service and value to our members and lender/provider partners, and this will be the driving force in everything we do.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197