Mortgages  

Ipswich chosen by Paradigm for its individual underwriting

Paradigm Mortgage Services has added the Ipswich Building Society to its lending panel.

John Coffield, head of Paradigm Mortgage Services, said: “This is a lender which is committed to individual, manual underwriting, which allows advisers to present cases which perhaps may not fit what we would describe as the mass-market vanilla mainstream.”

The products available include a 3.59 per cent two-year fixed-rate up to 90 per cent loan-to-value, available to first-time buyers and those looking to remortgage, as well as a 4.99 per cent two-year fixed-rate up to 95 per cent LTV, available to first-time buyers.

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All Ipswich Building Society applications are individually underwritten with no credit scoring. The society has approximately 65,000 members and looks after about 5,000 mortgage accounts.

Ipswich Building Society has an intermediary support unit available to advisers based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire.

Adviser view

Mike Pendergast, independent financial adviser for Cheshire-based Zen Financial Services, said: “It is useful to have an alternative to the mainstream lenders, particularly as lenders are being more selective since the mortgage market review.”