Paradigm Mortgage Services has announced the addition of West One Loans to its lender panel.

The move means that Paradigm member firms will be able to access West One’s buy-to-let (BTL) product range which is available to both new and professional landlords.

West One lends in England and Wales and splits its BTL product range into two parts. The lender’s standard products are available for individuals, limited companies, and LLPs, while its specialist range is also available to those wishing to finance HMOs, multi-unit blocks, properties above or next to commercial units, expats, and holiday lets.

The lender also offers several product and criteria USPs such as having no minimum income requirement, no minimum trading period for limited companies, no rate loading for limited company applications, and products covering a clear credit history and minor credit impact. Borrowers can also have an unlimited portfolio size with no formal stress-testing on the background portfolio.

Paradigm director of mortgages, Richard Howes, commented: “It’s undoubtedly the case that the BTL market has become more specialised in nature as the sector has become more professionalised in recent years, with the result that there is a growing need for specialist products here.

“At the same time, property as an asset class continues to grow in popularity, so intermediaries want and need lenders who fully understand this space, are flexible, can deal with complex cases, and have a swift service offering.

“West One certainly fits the bill here and we are very pleased to be part of its expansion programme amongst advisers which takes in distributors like ourselves.”

Managing director of West One’s BTL division, Andrew Ferguson, added: “Joining Paradigm’s panel is a fantastic way to start 2022, as we continue to widen the distribution of West One’s BTL offering.

“This comes at an excellent time for Paradigm’s members as it coincides with our refreshed product range and enhanced criteria, including the improvements to our portfolio lending proposition where we can now lend up to £10m per borrower.

“West One has a reputation for high service standards and quality individual underwriting which Paradigm’s brokers will benefit from as well as our flexible and pragmatic approach to lending.”

Share Story: