The offer is for any directly authorised (DA) firms using the distributor as their exclusive payment route for mortgages and aligning their protection provider agencies.
The package – costed at £900 plus VAT per year – is available using Paradigm’s profit-sharing scheme. At the end of the year, compliance costs will be deducted from the amount accrued under the profit share.
Paradigm said it is aware that the cost of quality compliance services can be hard for DA firms to bear. This is particularly true for smaller firms.
The compliance services included in the basic package are:
- Access to Paradigm’s compliance support website and compliance manuals that relate directly to mortgages
- Access to experts on its Mortgage placement and technical helpdesk
- Monthly compliance bulletins, including specialist mortgage-related regulatory updates
Bob Hunt (pictured), chief executive of Paradigm Mortgage Services, said: “Our innovative proposition means that firms can cover off their compliance needs and costs, whilst securing any remaining income generated over the course of the year.
“We believe this is a win-win position for all DA firms and alongside use of our compliance services, members also benefit from our full proposition including our comprehensive lender and provider panels, our high-quality mortgage helpdesk, top procuration fees, commercial terms and market-leading support.”