Its member firms will now have access to the recently launched residential offering
Mortgage distributor Paradigm has announced the launch of West One Loans’ residential proposition to its member firms.
Paradigm member firms will now have access to West One’s recently launched residential offering which covers purchase, remortgage, and unencumbered properties.
West One offers a range of residential mortgage products across three tiers – Prime Plus, Prime, and Near Prime – with loan sizes of £25,000 to £1 million, repayment terms of three to 40 years, a fast-track remortgage service, and multiple product options.
📢 West One have exciting news to announce the launch of residential product range with Paradigm. @Paradigm_Mtgs
— West One Loans (@westoneloans) March 20, 2023
For more information - https://t.co/ERhvkxJmN2#residentialmortgages #westoneloans #intermediaries pic.twitter.com/kVdj6ItNkM
Criteria highlights for West One’s residential offering include:
- Standard maximum loan-to-income (LTI) up to five times income across all plans
- LTIs over five times income considered on Prime Plus Flex and Prime Flex subject to meeting eligibility requirements
- Mortgages available to employed, self-employed, and retired applicants
- Loan-to-values (LTVs) up to 85% including first-time buyers
- Capital raise available for almost any legal purpose including debt up to 85% LTV
- Fast-track remortgage service provided by on-site solicitors, available for loan sizes up to £750,000
The lender also offers buy-to-let mortgages, as well as bridging loans, development finance and second charge mortgages.
“There is a growing complexity to residential borrowers’ needs and circumstances, which means there is an increase in need for specialist mortgage products from lenders who fully understand this market and can tailor their service and criteria to those specific needs,” Richard Howes (pictured), director of mortgages at Paradigm Mortgage Services, said.
“We are therefore very pleased to be able to offer West One’s new residential proposition to Paradigm member firms, who we know are increasingly active in the specialist residential space and are always looking for quality lenders who can provide individual support for both them and their clients.
“We have been working with West One for some time, offering its buy-to-let products to Paradigm firms, so we’re very pleased to be able to work together, pushing out this new specialist residential proposition, which I’m sure will be welcomed widely by our members.”
Paul Huxter, head of clubs and networks at West One, added that through the trusted partnership that they have built with Paradigm members, they would assist in getting their specialist residential cases placed.
“In the current challenging economic environment we find ourselves in, our residential products will help Paradigm firms and their advisers find the right solution for their clients,” Huxter said.
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