Paradigm, the mortgage, protection and compliance services proposition, has today (9th April 2024) announced the addition of specialist lender, Market Financial Services (MFS) to its lender panel.
From today, Paradigm member firms will be able to access the full range of MFS products covering both buy-to-let mortgages and bridging loans.
MFS entered the bridging market in 2006, and became active in the complex buy-to-let space in 2021, accommodating a range of complicated borrower backgrounds, including overseas clients, large loans, specialist properties, or poor credit histories.
MFS specialise in offering unregulated loans in England and Wales to; first-time landlords (including HMO and MUFB), limited companies, foreign nationals and expats, and trusts (including offshore).
The product range is available for: unlimited size HMOs, student lets, flats above commercial at 70% LTV, multi-unit blocks up to 30 units, and holiday lets.
Buy-to-let mortgages are available up to a maximum loan size of £3 million, with a maximum £10 million portfolio with the lender. It also considers large bridging loans up to £50 million, bridge to let, plus quick auction purchasers, light refurbishment via buy-to-let, and permitted development via a bridging loan.
MFS are members of the NACFB, FIBA, IMLA and the ASTL.
Richard Howes, Director of Mortgages at Paradigm, commented:
“Bespoke product options in a more complex lending and borrower landscape are increasingly in demand, and at Paradigm we want to ensure our member firms have access to lenders who specialise in these areas. This is why we have added MFS to our lender panel today who work within both the buy-to-let and bridging spaces, and have carved out a strong reputation for working effectively with advisers and ensuring their clients have access to quality products.
“MFS also offer a number of unique criteria options which are particularly relevant in an environment where affordability can be a significant challenge. Options such as rolling up months of interest, deferring 2% of the rate, top-slicing from portfolios or wider wealth are all available. And there is clearly a focus on individual underwriting in order to ensure the adviser can secure the right deal for the specific needs of the client. We’re looking forward to working with MFS and to introducing its proposition to our member firms.”
Karen Rodrigues, Head of Sales at MFS, said:
“The whole team at MFS are absolutely delighted to be launching with Paradigm, given they offer a very different mortgage club to the market for their members. Having worked with the Paradigm team for some time we believe our proposition is one their members will benefit from and offers another avenue to diversifying their businesses.”
