Paradigm has added the Cumberland Building Society to its lender panel, making its specialist vacation let mortgage proposition accessible to member companies.
The Cumberland has over 25 years of expertise in vacation let lending and gives mortgage intermediaries entry to assist by way of its middleman hub.
The society lends up to 75% loan-to-value (LTV) on vacation let properties of conventional development throughout Scotland, England and Wales, together with the Isles of Wight, Anglesey, Arran, Mull, Skye, Harris & Lewis.
The mortgage merchandise can be found for first-time buyers and portfolio landlords with handbook underwriting on all instances.
It additionally present financing for non structural enhancements, corresponding to pet pleasant upgrades, eco options or facilities that may improve income potential.
Paradigm Mortgage Services director Richard Howes says: “We are more than happy to announce this new partnership with the Cumberland Building Society, centered particularly on its Holiday Let lending providing.”
“In an atmosphere the place round a 3rd of UK adults now use vacation leases, and bookings and income continues to develop, their specialist providing positions intermediaries and their purchasers to capitalise on a thriving and resilient sector.”
“The Cumberland’s handbook underwriting, tailor-made standards and robust middleman ecosystem will guarantee Paradigm member companies can confidently place instances that others would possibly battle to assess.”
Cumberland Building Society head of middleman lending Grant Seaton adds: “As a part of our continued progress, we’re delighted to announce our partnership with our first mortgage membership, Paradigm. This collaboration represents one other milestone in our dedication to enhance the middleman expertise for the brokers we work with.”
Earlier this yr, the society launched new industrial lending standards for these within the hospitality sector in addition to companies in healthcare, skilled providers and foods and drinks industries.
