Paradigm Mortgage Services is celebrating its fifth anniversary.
The mortgage services proposition has now secured a 3.5% share of the mortgage market via approximately 2,200 Registered Individuals (RIs) currently placing business through it.
Its membership base now includes 375 directly authorised (DA) mortgage partner firms, 360 DA firms active through the firm’s sister company, Paradigm Partners, and a further 500 appointed representative firms via its strategic partnership with PFA/Caerus.
Full Partnership member firms have an equity stake in the business as 50% of the distributor’s equity is placed in trust for them. All firms also receive an income rebate each year based on the amount of business placed with Paradigm over the course of that year. Up until the year end April 2012, Paradigm had distributed over £750,000 in rebates back to member firms.
“This is a pivotal moment for the business and there is a real sense of pride at reaching our fifth anniversary, particularly given the changing nature of the mortgage market over the past five years,” said Bob Hunt, chief executive of Paradigm Mortgage Services.
“Our focus has always been on ‘profit through partnership’ which is why we have shaped the business this way and why our focus is as much on our lender/provider partners as it is our members. We purposefully decided at the outset that this would not be a proposition open to all firms and we feel we have been vindicated in focusing on quality all the way. Paradigm has never held an aspiration to recruit members just for the sake of volume and given the way the market has played out, we feel justified in this focus.
“We will continue to deliver quality to all concerned and it is our sincere hope and belief that in a further five years we will have significantly expanded and improved our overall proposition. The hard work does not stop here and we can assure all members and stakeholders that we will be seeking to deliver further value to all in the months and years ahead.”