Paradigm Mortgage Services has secured access to Newcastle Intermediaries’ large loans proposition for mortgages over £500,000.
Member firms of the mortgage services proposition can now access Newcastle Intermediaries’ large loans product range, which includes two-year fixes currently priced at 2.37% (60% LTV), 2.43% (75% LTV) and 2.47% (80% LTV), and five-year fixes priced at 2.99% (60% LTV), 3.05% (75% LTV), and 3.08% (80% LTV).
The Newcastle large loans proposition offers interest-only mortgages available up to 75% LTV, with up to 5.75 affordability multiples, consideration of 100% bonus/overtime.
Bespoke products are available at 60/70/80% LTV, while the maximum LTV between £500,001-£1m is 80%; between £1,000,001 and £1.5m is 75%.
In addition, the proposition offers direct access to underwriters and dedicated case ownership.
Loans are available over £500,000, up to a maximum of £1.5m.
Newcastle offers a bespoke level of service for all large loan cases, which includes a telephone helpline for case updates, available on 0345 602 2238, plus full BDM support to all advisers placing these loans.
John Coffield, head of Paradigm Mortgage Services, said: “Paradigm advisers often deal with a large number of clients seeking large loans so it is extremely pleasing to be able to now offer them access to the Newcastle Intermediaries’ proposition.
“These deals are highly competitive and come with a significant degree of broker support so our firms should be confident that they, and their clients, will be looked after throughout the whole process.
“We believe there will be a significant degree of interest in this product offering and we’re looking forward to working with the Newcastle to ensure our member firms benefit from this quality offering.”
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, added: “Following our addition to Paradigm’s lending panel earlier this year, we’re pleased to announce the introduction of our large loan range to our core offering. This introduction demonstrates our commitment to supporting our intermediary partners, like Paradigm, and our dedication to the intermediary mortgage market.
“We’re also committed to supporting our large loan customers, offering them both flexibility and choice. Our underwriters consider affordability on a case-by-case basis and we’re confident that through Paradigm we will help more advisers meet the needs of their customers.”
