Claire Askham (pictured), head of mortgage sales for Buckinghamshire BS, said: “It has undoubtedly been a challenging time for many, so we have launched this product to demonstrate our dedication to helping people during these uncertain times; we are confident the product will allow people to remortgage with peace of mind, knowing that their mortgage payments are fixed for five years.”
The product has a rate of 2.05 per cent fixed for five years with a fee of £495 and a maximum loan to value (LTV) of 80 per cent on a minimum loan of £50,000 and a maximum of £1m.
Buckinghamshire said it would consider applicants with earned income up to a maximum age of 75 and would accept search-indemnity insurance for this product, enabling the completion process to be as streamlined as possible.
“This new product launch follows an extensive review of the products on offer from Buckinghamshire Building Society,” she said, “to enable our full product offering to reflect the needs of this ever-changing market and ultimately provide flexibility and security to brokers and clients at a time when they need it most.”
Paradigm Mortgage Services
Meanwhile at Paradigm, member firms will gain access to the Vernon Building Society product range as the mutual has been added to its lender panel.
This comes alongside the launch of a semi-exclusive holiday buy-to-let product priced at 2.84 per cent with a fee of £299.
Vernon BS is active across a number of sectors offering mortgages to first-time buyers, home movers, remortgagers, retired borrowers, buy-to-let and self-build clients. It also offers later life lending with no upper age limit, student mortgages for those buying while at university and mortgages for those with complex incomes, among other options.
Once registered, advisers would be able to use Vernon’s online affordability calculator, obtain a decision in principle (DIP), and submit a full application via its online broker portal. Paradigm member firms would also be able to use Vernon’s dedicated intermediary helpline and have direct contact with its team of business development managers (BDMs).
Richard Howes, director of mortgages at Paradigm, said: “We are always very pleased to be able to bring lenders on board who offer a variety of product options across a growing number of sectors, especially in certain niche areas. Vernon Building Society certainly fits the bill here and Paradigm members are some of the very first firms to be able to access its new holiday buy-to-let product with this semi-exclusive arrangement. With a personalised approach to writing mortgages and a real focus on the intermediary sector, we believe member firms will find much to interest them and their clients, with the addition of the Vernon to our lender panel.”
Brendan Crowshaw, head of mortgage and savings distribution at Vernon BS, said the partnership was the latest step in Vernon’s plans for growth.
“We’re a small but innovative lender,” he said, “with a common-sense, flexible approach to underwriting and a commitment to working with brokers. It’s clear Paradigm shares our focus on providing brokers with great service and, we look forward to helping its members find lending solutions for their clients.”
