Paradigm offers Partnership’s enhanced lifetime mortgage
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Paradigm Mortgage Services is to offer Partnership’s new enhanced lifetime mortgage product through its members.
The equity release deal has no set-up fees and offers higher than average LTVs to smokers and those with certain medical or lifestyle conditions.
Paradigm says that as part of this new alliance with Partnership, it has secured competitive terms for its members advising on and recommending this product.
Bob Hunt, chief executive of Paradigm, says that in the light of the Dilnot report’s recommendations for social care funding, there may never have been a better time to talk to customers about their retirement needs.
He says: “This is why it is so important that Paradigm continues its strategic alliances with insurers like Partnership.
“This enhanced lifestyle mortgage product is particularly relevant for those individuals who may not be in the best of health; it will allow them to access enhanced levels of equity from their homes which they could use if necessary to fund a significant care need.”
Hunt adds that members can expect further announcements around the equity release sector in the near future.
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