Paradigm member firms can access the product range of the intermediary arm of the Newcastle Building Society immediately, which includes a range of residential loans as well as buy-to-let, self-employed and Help to Buy products.
Newcastle Intermediaries provides 95% LTV mortgages, fees-assisted products as well as five-year fixed-rate buy-to-let products stressed at a rental coverage of 145% at 4%.
Lending into the self-employed niche
The society also offers a range of self-employed products and will consider one year’s accounts for the newly self-employed, while it also allows company directors with a minimum 25% shareholding to use both salary and dividend. The mutual also considers salary and share of net profit for established businesses.
The building society offers national coverage with a team of field-based BDMs, in addition to a head office-based telephone team.
John Coffield, head of Paradigm Mortgage Services (pictured), said: “Many building societies have reshaped their offering in recent years to provide a much more bespoke product offering that considers individuals’ wants and needs, and the fact they might not fit a more vanilla proposition.
“Newcastle Intermediaries has certainly led the way in this regard with a range of product options and a commitment to individual underwriting that allows them to look at many borrowers and not just sentence them to a ‘computer says no’ approach.”
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “We’re really looking forward to working with Paradigm Mortgage Services whose personal approach to customer service mirrors our own. Our service to brokers has been responsively designed and based on broker feedback.”
Paradigm, based in Wilmslow in Cheshire, has more than 1,100 directly authorised firms representing more than 3,000 advisers.