Ipswich lifts postcode lending restrictions for Paradigm members - Mortgage Strategy

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Paradigm Mortgage Services members in England and Wales will now have access to Ipswich Building Society’s products as the lender has lifted its postcode restrictions.

From today, Paradigm member firms will be able to register with the Ipswich via its website and begin submitting business within 24 hours and use Ipswich’s intermediary portal for residential, buy-to-let, shared ownership, self-build and expat cases up to two applicants. Those with more than two applicants, guarantors or for porting cases a paper application will need to be submitted.

Through the portal, advisers can produce an ESIS, submit a DIP and full mortgage application, upload documents directly to the case, and track the case plus any previously submitted cases.

Paradigm Mortgage Services head of mortgages John Coffield says: “The traditional notion of what a building society does in the mortgage market can almost be consigned to history now, given the products and the sectors that many institutions are now active in. While residential might remain the bread and butter, lenders like Ipswich are showing the value of a much more diversified approach to the mortgage market and are working with intermediaries and distributors in order to ensure they meet the needs of their client demographic.

“This is why we’re very pleased to bring Ipswich onto our lender panel, especially given its commitment to manual underwriting, plus its willingness to look at ‘unusual’ cases and circumstances, and the fact it lends right across England and Wales.”

Ipswich Building Society chief executive Richard Norrington says: “As the mortgage market faces unprecedented times, we are pleased to extend our broad range of products to the members of Paradigm to help their clients.”


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