The mortgage distributor’s 1,674 member firms will have access to the full range of lending solutions offered by October Real Estate, covering residential, buy-to-let, commercial and development funding.
Octopus Real Estate provides residential and commercial bridging loans, pre-approved auction loans, commercial term loans and buy-to-let mortgages, as well as specialist products for short-term lets, first-time buyers and foreign nationals.
Octopus also offers development finance products, including its Greener Homes Alliance formed with Homes England, providing SME house builders with loan finance and expert support to build energy-efficient properties.
Paradigm member firms, which represent over 3,000 advisers, will gain access to a range of resources via the Octopus Real Estate website including lending documentation, loan enquiries, and policy documents.
The lender has lent more than £5.7bn via over 4,100 loans, ranging from £100,000 to £100m.
Funding property portfolios
Richard Howes (pictured), director of mortgages at Paradigm Mortgage Services, said there was strong demand for, and a need for advice around, the property development marketplace.
“We’re therefore very pleased to be bringing Octopus Real Estate on to our lending panel, given its experience in this market and the wide range of funding solutions it deploys, whether bridging, buy-to-let, commercial or development. Landlords and developer clients are looking at the ways and means by which they can develop their property portfolios and address the supply-side issues we currently have.
“We’re looking forward to working with the team at Octopus Real Estate to introduce its proposition to our members and to grow their lending footprint with our firms.”
Steve Matthews, head of residential lending at Octopus Real Estate, said: “We are looking forward to working closely with the team at Paradigm to add value to our adviser partners and their businesses. Paradigm’s Mortgage Club provides a friendly, supportive community that we know will really work in partnership with Octopus. Paradigm is on the ball with industry news and developments, providing ongoing training and support, access to CPD events, and regular market commentary.”
“Increasing numbers of borrowers continue to turn to specialist lenders, so it’s vital advisers have instant access to specialist products through distributors such as Paradigm. Our new relationship furthers our commitment to making the lending process as pain free as possible for advisers and their clients.”
