Paradigm Mortgage Services has announced the addition of new lender, MPowered Mortgages, to its panel.

From today, Paradigm member firms will be able to access MPowered’s range of buy-to-let (BTL) mortgages for individual, limited company and portfolio borrowers.

MPowered’s application process is powered by AI and deep learning, with its system asking just a small number of questions before the rest of the data is pulled via document extraction techniques or externally sourced.

The lender suggested this technology reduces unnecessary ‘back and forth’ between advisers and the lender, and cuts errors and delays.

Paradigm head of mortgages, John Coffield, commented: “The launch of a new lender is always exciting however some propositions also demand your attention because they are using cutting-edge technology and offering something new to the market.

“This is certainly the case with MPowered and we’re very pleased to be one of the first distributors to be able to offer our member firms access to its range of flexible BTL mortgages on its new lending platform.

“Speeding up the mortgage application process and utilising all the technology available to do that has to become the norm for all lenders, and MPowered’s proposition certainly looks like it’s pushing the envelope in that regard. We’re looking forward to working closely with the MPowered team and highlighting this new product range to our members.”

MPowered distribution director, Emma Hollingworth, added: “We’re delighted to be launching with Paradigm today and look forward to supporting Paradigm’s members. We are huge supporters of advice and want to help their DA brokers deliver the best possible service for their clients with access to our MPowered products and platform.”

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