According to the lender, member firms can now access the product range of the intermediary arm of the Newcastle Building Society which includes a range of residential loans as well as buy-to-let, self-employed and Help to Buy products.
Newcastle Intermediaries provides 95% LTV mortgages, fees-assisted products as well as five-year fixed-rate buy-to-let products stressed at a rental coverage of 145% at 4%.
The Society also offers a range of self-employed products and will consider one year’s accounts for the newly self-employed, while it also allows company directors with a minimum 25% shareholding to use both salary and dividend, and it considers salary and share of net profit for established businesses.
Its Help to Buy mortgages are available for both purchases and remortgages, with £500 cashback offered on purchases or free legals on its remortgage product.
Newcastle Intermediaries offers national coverage with a team of field-based BDMs, in addition to a Head Office-based, highly experienced, telephony team.
John Coffield, Head of Paradigm Mortgage Services, commented: “Many building societies have reshaped their offering in recent years to provide a much more bespoke product offering that considers individuals’ wants and needs, and the fact they might not fit a more ‘vanilla’ proposition. Newcastle Intermediaries have certainly led the way in this regards with a range of product options and a commitment to individual underwriting that allows them to look at many borrowers and not just sentence them to a ‘computer says no’ approach.
Alongside its mainstream residential product proposition, it offers a range of options to clients who might be looking for buy-to-let finance, or are self-employed, or want to access the Government’s Help to Buy scheme. We believe many Paradigm advisers will find the addition of Newcastle Intermediaries to our panel – a lender with a strong tradition and a nationwide approach – a welcome one and we’re looking forward to working with the team there to provide its solutions to our member firms.”
Steve Carruthers, Head of Mortgage Distribution at Newcastle Intermediaries, said: “We’re really looking forward to working with Paradigm Mortgage Services whose personal approach to customer service mirrors our own. Our service to brokers has been responsively designed, and based on broker feedback. Similarly, our bespoke underwriting demonstrates our commitment to helping brokers manage a variety of customer needs, whether straight forward or non-standard.”
