West One launch Residential proposition to Paradigm member firms

Paradigm, the mortgage, protection and compliance services proposition, has launched West One's residential proposition to its member firms.

Paradigm member firms will now have access to West One's recently-launched residential offering which covers purchase, remortgage and unencumbered properties. 

West One offers a range of residential mortgage products across three tiers, prime Plus, Prime and Near Prime, with loan sizes of £25k to £1m available, repayment terms of three to 40 years, a fast-track remortgage service and multiple product options. 

Richard Howes, Director of Mortgages at Paradigm, said: "There is a growing complexity to residential borrowers' needs and circumstances, which means there is an increase in need for specialist mortgage products from lenders who fully understand this market, and can tailor their services and criteria to those specific needs. 

"We are therefore very pleased to be able to offer West One's new residential proposition to Paradigm member firms, who we know are increasingly active in the specialist residential space and are always looking for quality lenders who can provide individual support for both them and their clients. 

"We have been working with West One for some time, offering its buy-to-let products to Paradigm firms, so we're very pleased to be able to work together, pushing out this new specialist residential proposition, which I'm sure will be welcomed widely by our members."

West One offers a personal underwriting approach to complex cases, with each residential deal having a dedicated manager. 

There are also dedicated and experienced broker support terms on hand to assist with any enquiries or issues. 

Criteria highlights for West One's residential offering includes standard maximum loan-to-income (LTI) up to five income across all plans, LTIs over five times income considered on Prime Plus Flex and Prime Flex subject to meeting eligibility requirements, and mortgages available to employed, self-employed and retired applicants.

Criteria also includes LTVs up to 85% including first-time buyers, capital raise available for almost any legal purpose including debt up to 85% LTV, and fast track remortgage service provided by on-site solicitors, available for loan sizes up to £750k.

West One also offer a range of buy-to-let mortgages, as well as bridging loans, development finance and second-charge mortgages.

Paul Huxter, Head of Clubs & Networks at West One, said: "In the current challenging economic environment we find ourselves in our residential products will help Paradigm firms and their advisers find the right solution for their clients. 

"Through the trusted partnership we have built with their members we will assist in getting their specialist residential cases placed."

Published in The Intermediary | March 2023

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