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Ipswich BS lifts postcode blocks for Paradigm members

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  • 04/06/2020
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Ipswich BS lifts postcode blocks for Paradigm members
Ipswich Building Society has lifted its postcode lending restrictions for members of Paradigm Mortgage Services.

 

Paradigm member firms can now register with the Ipswich through its website and begin submitting business within 24 hours of signing up.

Ipswich Building Society is active in a number of specialist mortgage product sectors, aside from residential lending,  including later life mortgages, buy-to-let, holiday let, expatriate and self-build deals.

The lender has no maximum age limit across all products and uses manual underwriting.

Paradigm member firms will be able to use Ipswich’s intermediary portal for residential, buy-to-let, shared ownership, self-build and expat cases up to two applicants.

For those with more than two applicants, guarantors or for porting cases, a paper application will need to be submitted.

Through the portal advisers can produce an ESIS, submit a decision in principle and full mortgage application, upload documents directly to the case, and track the case plus any previously submitted cases.

John Coffield (pictured), head of mortgages at Paradigm Mortgage Services, said: “The traditional notion of what a building society does in the mortgage market can almost be consigned to history now, given the products and the sectors that many institutions are now active in.

“While residential might remain the bread and butter, lenders like Ipswich are showing the value of a much more diversified approach to the mortgage market and are working with intermediaries and distributors in order to ensure they meet the needs of their client demographic.

“This is why we’re very pleased to bring Ipswich onto our lender panel, especially given its commitment to manual underwriting, plus its willingness to look at unusual cases and circumstances, and the fact it lends right across England and Wales.”

 

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