Paradigm adds new lender, MPowered Mortgages, to panel
20 April 2021
Paradigm Mortgage Services, the mortgage services proposition, has today (20th April 2021) added new lender, MPowered Mortgages, to its panel.
From today, Paradigm member firms will be able to access MPowered Mortgages range of flexible buy-to-let mortgages for individual, limited company and portfolio borrowers which are available on the MPowered lending platform.
Highlights of the MPowered Mortgages buy-to-let range include:
- A range of fee-free two- and five-year fixed-rate remortgages.
- No upfront booking fees.
- CCJs allowed – one satisfied up to £250 in the last three years and defaults over two years ignored.
- Flats over commercial considered; leaseholder/freeholder can be the same entity.
- Underwriting begins at the point of application with the underwriter and adviser connected in real-time.
- Simple upload for documents and a sophisticated dashboard to allow advisers to track and manage multiple cases.
MPowered uses new technology and data management in order to offer a simple and intuitive application process. The system only asks a small number of questions with the rest of the data pulled via document extraction techniques or externally sourced.
It means MPowered’s application process is powered by AI and deep learning which it says reduces unnecessary ‘back and forth’ between advisers and the lender, and cuts errors and delays. MPowered delivers full conditional offers in a short timeframe, providing clients with certainty and control.
John Coffield Head of Mortgages at Paradigm Mortgage Services, commented:
“The launch of a new lender is always exciting however some propositions also demand your attention because they are using cutting-edge technology and offering something new to the market. This is certainly the case with MPowered Mortgages and we’re very pleased to be one of the first distributors to be able to offer our member firms access to its range of flexible buy-to-let mortgages on its new lending platform. Speeding up the mortgage application process and utilising all the technology available to do that has to become the norm for all lenders, and MPowered’s proposition certainly looks like it’s pushing the envelope in that regard. We’re looking forward to working closely with the MPowered team and highlighting this new product range to our members.”
Emma Hollingworth, Distribution Director at MPowered Mortgages, said:
“We’re delighted to be launching with Paradigm today and look forward to supporting Paradigm’s members. We are huge supporters of advice and want to help their DA brokers deliver the best possible service for their clients with access to our MPowered products and platform.”
“MPowered has been designed with brokers, not just for them, so we’re excited to work with Paradigm members to continue evolving the platform and make the mortgage application process even smoother for everyone involved.”
For more information on Paradigm Mortgage Services’ please visit: www.paradigmmortgages.com/
For more information on MPowered Mortgages, firms should visit: www.mpowered.co.uk/intermediaries
