Paradigm has added the Cumberland Building Society to its lender panel, making its specialist holiday let mortgage proposition available to member firms.

The Cumberland has over 25 years of experience in holiday let lending and offers mortgage intermediaries access to support via its intermediary hub.

The society lends up to 75% loan-to-value (LTV) on holiday let properties of traditional construction across Scotland, England and Wales, including the Isles of Wight, Anglesey, Arran, Mull, Skye, Harris & Lewis.

The mortgage products are available for first-time investors and portfolio landlords with manual underwriting on all cases.

It also provide financing for non structural improvements, such as pet friendly upgrades, eco features or amenities that can enhance revenue potential.

Paradigm Mortgage Services director Richard Howes says: “We are very pleased to announce this new partnership with the Cumberland Building Society, focused specifically on its Holiday Let lending offering.”

“In an environment where around a third of UK adults now use holiday rentals, and bookings and revenue continues to grow, their specialist offering positions intermediaries and their clients to capitalise on a thriving and resilient sector.”

“The Cumberland’s manual underwriting, tailored criteria and strong intermediary ecosystem will ensure Paradigm member firms can confidently place cases that others might struggle to assess.”

Cumberland Building Society head of intermediary lending Grant Seaton adds: “As part of our continued growth, we are delighted to announce our partnership with our first mortgage club, Paradigm. This collaboration represents another milestone in our commitment to improve the intermediary experience for the brokers we work with.”

Earlier this year, the society launched new commercial lending criteria for those in the hospitality sector as well as businesses in healthcare, professional services and food and drink industries.