The products are available for a limited trial period amongst selected Paradigm member firms.
They include:
• 3-year residential mortgage available at 90% LTV – discount off Chorley’s SVR with a current rate of 4.74%
• 2-year buy-to-let purchase mortgage available at 80% LTV – discount off Chorley’s SVR with a current rate of 4.99%
• 2-year buy-to-let remortgage available at 80% LTV – discount off Chorley’s SVR with a current rate of 4.99%
Paradigm and Chorley will work together on the distribution of this range in anticipation of further funding being made available which will allow Paradigm to open up the products to its whole membership.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “These are competitive products in the current marketplace and we are confident there will be a strong take-up for them.
“Clearly we will look at how this trial progresses and if, as hoped, it is a success we will be looking to work with Chorley further in order to provide more exclusive products that can be accessed by all our members.”
Stephen Penlington, chief executive at Chorley, said: “Chorley has developed an excellent reputation for providing attractive mortgage products combined with traditional underwriting values and high quality service standards.
“Our approach to underwriting is that we consider each individual case on its own merits and this ‘personal touch’ approach to mortgages is highly valued by the broker community.”
