John Coffield is leaving his position as head of Abbey’s mortgage club, The Mortgage Alliance, to head Paradigm Partners’ new mortgage club proposition, Paradigm Mortgage Services.
Paradigm Mortgage Services will launch in September 2007. Coffield’s role will be to develop the lending and partner proposition to provide the best mortgage terms and services to members.
PMS has been established to work in partnership with both distributors and lenders. Paradigm says it believes greater collaboration is required between mortgage manufacturing and distribution to meet demanding consumer and regulatory needs.
It says the mortgage club will offer market-leading commercial terms and generate “incremental and sustainable value for intermediary users”. PMS members will share in the capital growth of the business via a discretionary trust and, by joining and using the club, will be building a share in the business.
Bob Hunt, chief executive of PMS, says: “We are looking forward to welcoming John to Paradigm to head up our Paradigm Mortgage Services mortgage club proposition. For Paradigm to attract a person of John’s calibre to the organisation is a real signal of our intent and adds further depth to our team.
“John’s appointment clearly demonstrates our ongoing commitment to the mortgage community.”