Paradigm launches large loan exclusive with Bank of Scotland

Paradigm Mortgage Services has launched an exclusive large loan product with the Bank of Scotland.

The three-year large loan fixed rate product is offered at 5.75% up to April 30 2011.

The product is available to 90% LTV on mortgages over £500,000, up to a maximum of £2m, and comes with an arrangement fee of 0.5%.

There are early repayment charges of 5% to April 30 2009, 4% to April 30 2010 and 3% to April 30 2011.

This exclusive product is also offered with Bank of Scotland’s remortgage service for new clients remortgaging from another lender.

The remortgage service is available when one of Bank of Scotland’s remortgage panel conveyancers is instructed, providing fee-free conveyancing plus no valuation costs.

John Coffield, head of Paradigm, says: “We are delighted to announce the launch of this large loan Bank of Scotland remortgage product exclusively to Paradigm members. The product is offered with a highly competitive 5.75% fixed rate with clients also able to benefit from a fees-free valuation and conveyancing option through Bank of Scotland’s Remortgage Service.

“At a time when many intermediaries will be seeking to place large numbers of remortgage clients, this product should certainly fit the bill for those with larger loans and help secure the client for a further three years. Intermediaries looking to access this exclusive product should visit our website to learn how to join Paradigm and gain access to the range of benefits and services we can provide.”