Bridging and short-term lender, MT Finance, has joined Paradigm Mortgage Services’ lender panel.
Paradigm’s member firms can now register with MT Finance in order to access its range of first and second-charge bridging loan products designed for property investor and developer borrowers.
MT Finance’s roster of bridging products include:
- Heavy Refurb – designed to cater for borrowers who wish to add value to their investment by undertaking conversion works; rates from 0.8% up to 70% LTV.
- Residential – for the purchase of an investment property where time is of the essence, or completing light refurbishments on a property or buying at auction; rates from 0.75% up to 70% LTV.
- Second-charge – if the client already has a loan or mortgage secured against the asset, MT Finance can help them acquire further financing; rates from 0.75% up to 70% LTV.
- Commercial and semi-commercial – no evidence of trading history or proof of income is required, with MT Finance lending strictly on the value of the property; semi-commercial assets considered include commercial property with flats above and guest houses with less than 40% owner-occupancy; rates from 0.85% with loans available up to 65% LTV.
Paradigm member firms who register with MT Finance can also access the range of intermediary services available, including a request the opportunity to request a visit from a BDM, who will be able to outline all the options available to advisers and their clients.
John Coffield, head of Paradigm Mortgage Services, said: “In the world of property development and investment, advisers will be acutely aware that many clients require quick, short-term finance in order to purchase, buy at auction or refurbish.
“Therefore, it’s vitally important we work with quality bridging loan lenders and it’s the reason why we’ve added MT Finance to our lending panel today. We fully anticipate that 2020 will be a busy year for property investors and developers and we want to ensure Paradigm member firms have access to the best products available for them in the bridging sector.
“We are looking forward to working with the MT Finance team, who have a very strong reputation in the sector, and would urge any firm interested in the opportunities available in this part of the market to contact us to see how we can support their business activities.”
Gareth Lewis (pictured), commercial director at MT Finance, added: “We are delighted to have the opportunity to work with Paradigm Mortgage Services and their members. With our commitment to supporting brokers through good products and education, it was logical to look at extending our distribution through such a well-respected brand who shares our same core values, and we have no doubt this partnership will be valuable for all involved.”