Paradigm adds National Counties and Family Building Societies to lender panel

23 May 2016

Paradigm Mortgage Services, the mortgage services proposition, has today (23rd May 2016) added both National Counties and Family Building Societies to its lender panel.

From today, Paradigm members will be able to access the range of mortgage products offered by both the National Counties and Family Building Societies.

National Counties offers mortgages in a range of sectors including owner occupier, first-time buyer, remortgage, home mover and lifetime mortgages. It is also active in niche and specialist sectors such as lending in and into retirement, self-employed mortgages, interest-only, holiday home, second homes, expatriate mortgages and those for the armed services.

The Epsom-based society also offers a range of buy-to-let mortgage products for individuals for both purchase and remortgage.

The Family Building Society was launched in July 2014 and is the first new building society proposition for more than 30 years; it was developed specifically to help families who can work together to use their money and their assts more successfully. It offers a range of mortgage, savings, insurance and later life planning products and is a trading name of the National Counties Building Society.

Family Building Society mortgage products available to intermediaries include:

• The Family Mortgage – this has three ways of allowing borrowers to keep their monthly payments lower, without their families having to give away money they might need in later life. It allows families to pool their savings and property assets into the mortgage calculation in order to support younger people onto the housing ladder.
  
  
• Offset mortgages – utilising savings to lower the interest charged on the mortgage.
  Low start mortgage – delivering lower repayments at the start of a mortgage term before gradually increasing to a normal level.
  
  
• Three and five-year fixes – providing payment certainty for borrowers over those terms, plus the Society can also offer mortgages that extend beyond retirement and interest-only mortgages.

The Family Building Society individually underwrites every mortgage application it receives taking the time to fully understand all elements of the applicant’s finances and assess affordability.

John Coffield, Head of Paradigm Mortgage Services, commented:

“National Counties Building Society is one of the leading lights in the lending community and has clearly recognised not just the importance of the intermediary market as a whole but also the need to ensure niche customers are catered for. Advisers will only need to look at the range of products offered by National Counties to know that it is serious about helping those borrowers who might be described as underserved and may not get past the threshold of traditional lenders only interested in ‘mainstream’ individuals. With products available for the self-employed, those whose term passes into retirement, indeed those already in retirement, it’s obvious that this is a forward-thinking society which caters for a wide variety of borrower needs. To that end, I’m sure Paradigm members will welcome its addition to our panel.

“It’s also been quite clear for a number of years that many potential homeowners require the support of their nearest and dearest when it comes to making their property dreams a reality. The Family Building Society has clearly recognised the importance of this and has developed a range of mortgage products which allow family members to support each other via a number of routes. In particular, the Family Mortgage means this can be achieved without tying up assets, as many other lenders require, allowing them to be used in the future. Providing access to the Society to Paradigm member firms is a very pleasing step for us as a distributor as we have been impressed by its product range, its approach to individual underwriting and affordability, and its commitment to the intermediary sector. We are looking forward to working with the team at National Counties and Family to develop a strong relationship that delivers for our members.”

Cammy Amaira, Head of Intermediary Sales at National Counties and Family Building Societies, said

“We continue to build strong relationships with key partners to ensure that our products and services are distributed to those borrowers who need help and guidance to find the right lender. Our offering is tailored for borrowers who often aren’t properly catered for by the mainstream lenders. We distribute through the professional intermediary sector, which accounts for some 90% of our lending. Joining the Paradigm panel is very good news and it cements our commitment to the intermediary channel.”

For further information on Paradigm Mortgage Services, please visit: www.paradigmmortgages.com