Mortgages  

Paradigm announces exclusive distribution agreement

Paradigm announces exclusive distribution agreement

Paradigm Mortgage Services had signed an exclusive two-year agreement with specialist lending distributor Brightstar.

Paradigm will only be working with Brightstar from today (6 October), with its member firms being encouraged to place their specialist lending business through the firm, with the benefits of preferential terms for all those that do so.

This will allow its members to expand their client offering and income potential, whilst accessing product areas which they may previously not have advised on.

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The Brightstar team covers five key areas: specialist residential and buy-to-let mortgages, second-charge loans, bridging finance, development finance and commercial finance.

Bob Hunt, chief executive of Paradigm, commented: “This new exclusive agreement gives our members access to incredibly attractive and preferential terms which they are unlikely to secure elsewhere.

“Our two-year agreement means we can work very closely together and ensure that Paradigm firms and their clients get the best that the burgeoning specialist lending market has to offer.”

Rob Jupp, chief executive at Brightstar, added that the partnership is a “forward-looking move” by Paradigm to ensure that all of the firms that use them have access to the very best specialist lending help.

“At the same time each broker will still benefit from the generous profit share scheme offered by Paradigm, resulting in a 5 per cent increase in procuration fees.

He added: “For firms new to specialist lending or unsure about a case, Brightstar staff are happy to talk through the options for every case on a no-obligation basis to help make it easy for every broker, working with them to increase their knowledge.”

ruth.gillbe@ft.com