Paradigm has launched new, exclusive large loan products from Harpenden Building Society to its member firms.

Available for loans over £1m, the two-year fixed-rate products cover both repayment and interest-only options.

Loans between £1m and £1,249,999 up to 75% LTV and between £1.25m and £1,999,999 up to 70% LTV are both available at 5.23%.

Meanwhile, loans of £2m to £2.5m up to 75% LTV are at 5.63%.

Arrangement fees for the 70% and 75% LTV products are £1,500, while the fee for the 65% LTV product is set at £3,000.

Harpenden Building Society specialise in assisting borrowers with complex income streams and other non-standard requirements, such as unusual properties.

It offers a range of residential and specialist mortgage products covering holiday let and second home properties, buy-to-lets and those for self-build borrowers.

For Paradigm member firms not active in the large loan space, the distributor offers referral options with other members in order to access specialist advice for clients.

Paradigm director of mortgages Richard Howes says: “We have worked closely with Harpenden Building Society for a number of years, and we are very pleased to be able to offer these exclusive large loan products to Paradigm member firms.

“They come with a significant discount of 40 basis points off the Harpenden products available to the wider market, and this is a direct benefit of being a Paradigm member.

“For advisory firms who are not active in this space, but who may be dealing with clients needing larger loans, we offer a quality referral process that will ensure borrowers have access to those firms who do offer this specialist service.

“Those who refer can ensure their clients are in the safest of hands, plus they also receive the referral income, not forgetting the benefits of being able to signpost clients to specialists – a big focus of the Consumer Duty rules.”