Increasing product choice and competition in the short-term lending market is providing opportunities for brokers and their customers, according to Paradigm Mortgage Services.
The firm is urging mortgage intermediaries to actively consider the products available in the short-term loans sector.
It says the bridging, commercial, short-term and property development sectors could offer access to funding for consumers who may not be able to secure finance through more traditional routes.
Bob Hunt, chief executive at Paradigm, says: “Advisers are increasingly telling us that they are seeking such routes to finance for their clients and therefore Paradigm is now working to ensure our members have access to the most appropriate and potentially lucrative offerings available.”
He adds that any broker considering their clients’ options in the short-term finance sector ought to ensure they carry out adequate research and contact Paradigm, which can point them in the direction of providers it has existing relationships with.
Hunt says: “Opportunities are available, but this is a market that requires know-how and expertise in order to secure the most appropriate deal for a client.”