ModaMortgages joins Paradigm panel Mortgage Finance Gazette

Img

Paradigm has added buy-to-let specialist ModaMortgages to its lending panel.

This gives member firms access to ModaMortgages range of BTL products. These offer products for landlords with small and larger portfolios, alongside those operating as a limited company and first-time landlords and first-time buyers.

ModaMortgages also lends on both houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).

Mortgage options available include lifetime tracker rates with a choice of percentage and fixed fee options.

ModaMortgages also offers top slicing, and products are available up to 75% LTV. The lender does not impose any minimum income for loans under £1m (provided the borrower is not a first-time buyer). Loans are available to borrowers who are employed, self-employed, contractors or retired with pension income.

Paradigm director of mortgages Richard Howes says: “We’re pleased to be bringing a relatively new lender, ModaMortgages, onto our panel providing our member firms with access to a new range of specialist buy-to-let products available to a wide range of landlord borrower types.

“ModaMortgages offers a 100% online process, plus an experienced adviser support team to ensure cases can move through as quickly as possible.”

ModaMortgages director of sales and distribution Darrell Walker says the company would work with Paradigm members to deliver “flexible, customer-centric options” that support their clients increasingly diverse borrowing needs.

ModaMortgages distributes exclusively via intermediaries and was created by UK digital bank, Chetwood Bank.