Paradigm launches m’gages with Chorley BS
The products are a three-year residential mortgage available on 90 per cent LTV at a standard variable rate of 4.74 per cent, and two mortgages at an SVR of 4.99 per cent and 80 per cent LTV, which last for two years, one remortgage and one buy-to-let.
The products are only available for a limited trial period among selected Paradigm member firms, but the range could soon open up to the firm’s whole membership if further funding is secured.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “These are competitive products in the current marketplace and we are confident there will be a strong take-up for them.
“Clearly we will look at how this trial progresses and if, as hoped, it is a success we will be looking to work with Chorley further in order to provide more exclusive products that can be accessed by all our members.
Stephen Penlington, chief executive at Chorley Building Society, said: “We have developed an excellent reputation for providing attractive mortgage products combined with traditional underwriting values and high quality service standards.
“Our approach to underwriting is that we consider each individual case on its own merits and this ‘personal touch’ approach to mortgages is highly valued by the broker community.”