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|Paradigm add Nottingham for Intermediaries to lender panel|
|Monday, 27 March 2017|
Paradigm Mortgage Services, the mortgage services proposition, has today added Nottingham for Intermediaries, the dedicated intermediary arm of the Nottingham Building Society, to its lender panel.
The Nottingham is a regional building society located in the East Midlands that supports lending across England and Wales. It has more than 165 years of experience coupled with strong financial performance which means it is able to offer an excellent service to intermediaries through a range of products that help meet customer needs.
From today, Paradigm members can access the Nottingham’s range of products which include: up to 95% LTV residential purchase and remortgage products (including first-time buyers); 90% LTV new-build; 80% LTV interest-only (with a suitable repayment vehicle); self-build; let-to-buy; professional landlords accepted (with unlimited portfolios); and a range of no ERC products on residential and buy-to-let.
Nottingham for Intermediaries pay a full procuration fee on ported cases, and all its products are portable. There is only a £35 fee for switching a product after offer and free valuations are available on all residential and buy-to-let products.
This year Nottingham for Intermediaries has already made a number of changes and improvements to its product range and criteria including:
· Cheaper products for lower LTV bandings.
· Mortgage offers extended to six months.
· Reductions in residential and buy-to-let mortgage rates.
· Increased sales team and underwriter support.
· 95% LTV for first-time buyer, home movers and remortgages.
· Improved affordability calculator.
· Fee-free products. · No early redemption penalty products.
Intermediaries, once registered, will have access to the Nottingham’s support team plus experienced BDMs and a dedicated mortgage desk. The lender also offers direct access to its underwriters plus online case tracking, with mortgage offers able to be downloaded via its Application Manager.
John Coffield, Head of Paradigm Mortgage Services, commented: “Bringing Nottingham for Intermediaries on to the Paradigm lender panel is a real coup for the business given its focus on providing brokers with a quality service and access to products which might not normally be available from other borrowers. It has a number of dedicated intermediary support services which our member firms will find of real value including BDMs and a mortgage desk. The Nottingham’s product range is extensive, flexible and focused on key niche sectors including first-time buyers, new-build, self-build and let-to-buy. Of particular interest to our members will be its 95% LTV products which are available for first-time buyers, house purchasers and remortgagers, with a maximum loan of £275k, free basic valuation and free legals for remortgages. It is heartening to deal with a lender that has intermediary business at the heart of its operation and is willing to look beyond credit scores at the needs of individual borrowers – we are looking forward to working with the team at the Nottingham and believe our members will find much to interest them and their clients. Full details are available on our website.”
Nikki Warren-Dean, Head of Intermediaries at Nottingham Building Society, said: “We are delighted to be joining the Paradigm lender panel; it is the natural next step for The Nottingham and our growth ambitions. It is key for us to work alongside Paradigm and extend our reach in the DA marketplace. This is part of our continued commitment to the broker community; we want to engage with as many brokers as possible by giving them access to our range of products for their clients.”
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