Paradigm add Tandem Bank to lender panel
01 February 2023
Paradigm, the mortgage, protection and compliance services proposition, has today (1st February 2023) added digital bank, Tandem Bank, to its lender panel.
Tandem’s mortgage division was launched in November 2022 as a stand-alone, intermediary-focused business, concentrating on specialist first-charge mortgages. Its first product range focuses on remortgages, with a focus on speeding up the time between application and completion.
From today, Paradigm members will be able to access Tandem’s range of flexible mortgages including specialist mortgages with discounted rates for borrowers who have a property with an EPC level of A, B, or C, bespoke residential remortgages up to a maximum LTV of 90%, product transfers, and specialist products for those borrowers not eligible for high-street lenders.
The Bank is intermediary-focused and has developed a streamlined process in order to make business submission easier. This includes:
- A fair notice period for all interest rate and product withdrawals.
- An assessment of the applicant’s credit file based on 22 months rather than the industry standard of 60 months.
- Fixed-rates are booked at the time of an accepted AIP.
- Use of AVMs or a free valuation up to £750k.
- Free lender-only legals.
- No interest charged on fees.
Tandem Bank was founded in 2014 and has a reputation as a forward-thinking institution with a strong proactive background in tackling green issues.
For more information on Tandem Bank, please visit: www.tandem.co.uk
Richard Howes, Director of Mortgages at Paradigm, commented:
“It is always exciting to be able to bring a new lender on board to the Paradigm panel, and to offer our member firms access to a new range of products, designed specifically for the intermediary mortgage market. Tandem might be new but they have a wealth of experience within the mortgage division, and have clearly looked at the market from the adviser’s point of view, shaping the product and service proposition to make it work specifically for the intermediary sector. We’re looking forward to working with the team at Tandem Bank and presenting its offering to our member firms.”
David Venn, Key Regional Manager at Tandem Bank, said:
“Tandem can complete a remortgage faster than any of our competitors, thanks to our innovative use of free lender-only legals - an in-house service to borrowers so they can obtain their funds faster and with the minimum of fuss. Allied to the use of AVMs which can be used up to 75% LTV or alternatively a free valuation up to £750k, Tandem brings a new methodology to the remortgage market, which will help increase adviser business and delight clients. We are excited to be working with one of the leading mortgage distributors in the UK and bringing our exciting new remortgage service to their members.”
For more information on Paradigm Mortgage Services’ please visit: www.paradigm.co.uk/mortgages
