Paradigm Mortgage Services is offering its members access to a bridging sourcing system.
The sourcing system that will be available is a joint collaboration between bridging specialist Capital Advances and Solent Mortgage Services which contains product placement, AIP, application and processing capabilities.
The system also has a data feed into AIPs and lender applications.
Paradigm Mortgage Services chief executive Bob Hunt says that prior to it implimenting the systemit was difficult for brokers to make sense of confusing interest calculations from some bridging lenders
He says: “One thing that has prevented some intermediaries from diversifying into bridging loans before now is uncertainty surrounding regulatory and compliance issues, and with such a range of proposition features available this sourcing system will help ease the compliance burden, providing a full audit trail from the start of the process.’