Its member firms can source Penrith's residential and buy-to-let products
Mortgage distributor Paradigm has expanded its lender panel with the addition of Penrith Building Society.
Member firms affiliated with Paradigm now have access to Penrith’s range of residential and buy-to-let mortgage products, designed for both property purchases and remortgages.
In addition, Penrith will be integrated into Paradigm’s ‘Building Society Collective’ email service. This service, facilitated by the Mortgage Helpdesk, enables member firms to submit case inquiries to over 20 building societies simultaneously, allowing a case-by-case approach.
Penrith offers a selection of variable rate mortgage products for mainstream requirements as well as more specialised niches such as large loans, foreign currency transactions, expatriates (including buy-to-let and holiday let), multi-unit properties, shared ownership, self-build/renovation, second homes, and further advances.
The lender’s offerings extend to unique criteria, with features like no maximum borrower age, utilisation of earned income up to the age of 75, interest-only options (up to 50% LTV with a minimum equity of £250,000), expat buy-to-let, and holiday let with top slicing available if necessary.
“Building societies continue to be at the cutting edge in terms of exploring existing and new product options and ensuring they provide mortgage solutions to a much wider array of borrowers,” commented Richard Howes (pictured), director of mortgages at Paradigm. “The Penrith Building Society proposition certainly achieves this, and then some, and we are very pleased to be able to kick off 2024 with its addition to our lender panel.
“It’s a lender that is active across England, Scotland and Wales, and has a wide array of product choices, distinct criteria plus an individual-focused approach to underwriting cases. I’m sure Paradigm firms and their advisers will find much to interest them in this range, and we’re looking forward to working with the team at Penrith to highlight its offering to our members.”
Tim Vigeon, head of product development and distribution at Penrith Building Society, said it was delighted and excited to be joining Paradigm Mortgage Service’s lender panel.
“We are very much looking forward to working with Richard and the rest of the team, so their members can enjoy using our flexible lending criteria which combined with our individual approach to lending will provide them with criteria that are not suited for high-street lenders,” Vigeon added.
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