From today Paradigm will be offering members preferential terms on all business they choose to place with Brightstar.
Brightstar offers specialist residential and buy-to-let mortgages; second-charge loans; bridging finance; development finance and commercial finance.
This new agreement will allow Paradigm member firms to place specialist lending cases, potentially turned down by mainstream lenders, through Brightstar.
Bob Hunt, chief executive of Paradigm Mortgage Services, said:
“This is a significant milestone and agreement for us and has been made to ensure that our member firms secure access to the best specialist lending partner in the marketplace. We have been working with the team at Brightstar for some time and as a business with a great management team, clear expertise and an approach to working with intermediaries, we believe there is no-one better than Brightstar for our firms to place their business with. This new exclusive agreement gives our members access to incredibly attractive and preferential terms which they are unlikely to secure elsewhere. Our two-year agreement means we can work very closely together and ensure that Paradigm firms and their clients get the best that the burgeoning specialist lending market has to offer.”
Rob Jupp, chief executive officer at Brightstar, said: “This partnership is a forward-looking move by Paradigm to ensure that all of the firms that use them have access to the very best specialist lending help. At the same time each broker will still benefit from the generous profit share scheme offered by Paradigm, resulting in a 5% increase in procuration fees.”