You are here: cherry > Press releases for May 2010 > Paradigm Mortgage Services add Saffron BS to lender panel

10 May 2010

Paradigm Mortgage Services, the mortgage partnership proposition, has today (10th May 2010) added Saffron Building Society to its lender panel. From today Paradigm member firms will be able to access Saffron’s range of mortgage products which includes fixed, discount, tracker and variable residential mortgage options. It also offers buy-to-let mortgages plus first-time buyer and shared ownership offerings. Saffron is focused on dealing and assessing each case on an individual basis with intermediaries having access to its mortgage underwriters. Each underwriter takes ownership of the case ensuring overall accountability and ongoing communication with the processing team. This allows agreement in principles to be given for cases outside its normal lending criteria. Paradigm firms will also benefit from Saffron’s ‘no cross-sell agreement’. Paradigm has secured market-leading terms for all members placing business with Saffron. Associate members using Paradigm gain a 50% share of all central revenues they generate per annum, while full Partner members participate in this income distribution plus they also build up shares in Paradigm Mortgage Services LLP and participate in the growth of the company as a whole. Alongside its core mortgage offering Paradigm Mortgage Services also offers its member firms a range of product options and income-generating opportunities including protection, GI, equity release, wills and legal services. Saffron Building Society is a regional building society serving East Anglia. It recently announced a 455% increase in the value of its mortgage lending in quarter one 2010 compared to quarter one 2009; in the same period it also saw a 131% increase in mortgage applications. John Coffield, Head of Paradigm Mortgage Services, commented: “Saffron Building Society has a strong history and a service-driven attitude to dealing with mortgage intermediaries; therefore it seemed an obvious match to work together to deliver its range of products to Paradigm member firms. Once again we have secured top terms for our members and there will also be benefits in the form of Saffron’s underwriting which allows the processing team to look at cases on an individual basis. This means that Saffron is not averse to looking at those clients whose circumstances may not fit its standard lending criteria; it also has a history of dealing with niche products and has a strong reputation and experience in these areas. All in all Saffron Building Society will be a strong addition to the overall Paradigm mortgage offering and any intermediary who is looking for further information on the range of products and services available through the mutual should look at the website and contact a member of the Paradigm team.” John Eastgate, Sales and Marketing Director at Saffron Building Society, said: “We are delighted to be joining Paradigm’s lender panel. Our approach to underwriting has always been to consider each case on its merits and we are extremely proud of a policy that has resulted in industry leading arrears performance. In the current climate, brokers need to know that they can have sensible conversations with lenders, and they’ll certainly get that with us.” For more information on Paradigm Mortgage Services, including how to join, please visit: www.paradigmmortgages.com For more information on Saffron Building Society, please visit: www.saffronbs.co.uk ENDS

Click below to download the full press release