Paradigm Mortgage Services is offering free compliance support to directly authorised firms for up to six months.
The mortgage distributor business will support new firms that sign up to its support proposition for either three or six months, depending on whether a two- or three-year contract is signed.
Paradigm says it is looking to support directly authorised firms while they adjust to operating during the lockdown, as fewer mortgage applications than normal can be progressed.
Existing membership and compliance packages are alternatively available without contract tie-ins.
Firms that already use Paradigm’s compliance services are eligible for a £250 fixed referral fee for referring other advisory practices to Paradigm under the free compliance support offer.
Bob Hunt, chief executive of Paradigm Mortgage Services and managing director of Paradigm Consulting, said: “We understand the importance of compliance for directly authorised firms, especially at times like these when many aspects of these businesses are changing.
“We have been actively supporting our existing membership through this complex and challenging time, and now we are looking at how else we can assist intermediary firms who may be struggling.”
Sebastian Riemann, adviser at Libra Financial Planning, said: “As a whole we welcome any support offered by networks and mortgage clubs during these times of uncertainty, helping to sustain adviser numbers in the coming months and years which will be of huge importance for consumers.”
Paradigm Mortgage Services gives intermediaries access to lenders covering the whole of market as well as support services.
chloe.cheung@ft.com
