Advisers name favourite mortgage and protection providers

Advisers name favourite mortgage and protection providers

Advisers have named Santander for Intermediaries as the best overall lender, while Legal & General has been awarded best life protection provider.

As part of Paradigm's latest provider awards, directly authorised member firms were asked to vote for three lenders and providers in each award category throughout the 2019/20 financial year.

Votes were taken on a monthly basis, which Paradigm said provided an "ongoing snapshot of advisers’ views” and ensured that consistently good service was recognised.

Alex Kemp, partner at Ideal Mortgage Advisers, said it came as “no surprise” to see Santander for Intermediaries and Halifax voted best overall and residential lenders respectively.

Mr Kemp said Halifax offered “generous but not irresponsible income multipliers based on income and deposit size, which is always a sensible approach".

He added: "[They are] the go-to lender for UK mortgage brokers when we need a high street lender on sometimes unusual scenarios.”

Winners for 2019/20

Best Overall LenderSantander for Intermediaries
Best Residential LenderHalifax
Best Buy-to-let LenderFleet Mortgages
Best Specialist LenderKent Reliance for Intermediaries
Best Equity Release LenderHodge Lifetime
Best Life Protection ProviderLegal & General
Best General Insurance ProviderPaymentshield
Best Critical Illness ProviderGuardian
Best Income Protection ProviderRoyal London
Best Group Risk ProviderUNUM

Additionally, Coventry for Intermediaries and AIG Life were voted strategic partners of the year for mortgages and protection respectively.

Bob Hunt, chief executive of Paradigm Mortgage Services and Paradigm Protect, said: “Whilst these winners were judged over the course of the last 12 months, it would be remiss of us not to thank all our lender and provider partners for their incredible efforts since lockdown was introduced.

“This has not been an easy period for anyone in the mortgage or protection space, and the progress we have made together, and the support that has been provided since the pandemic started, has clearly demonstrated the quality of the propositions we offer to our member firms.

“We feel these awards are now more important than ever, as we see the entire intermediary community adapt to the challenges faced by Covid-19 and as we move towards a new normal, and we are encouraging all of our members to get involved by voting for the lenders and providers offering the best support to both them and their clients.” 

Many lenders have pledged their ongoing support for those affected by the coronavirus after HM Treasury confirmed last week (May 22) that mortgage customers struggling to pay could extend their payment holiday or make reduced payments.