Paradigm adds New Street Mortgages to panel

House-For-Rent-Home-700.jpg

Paradigm Mortgage Services has added buy-to-let and let-to-buy lender New Street Mortgages to its panel.

New Street’s lending criteria include rental calculations starting at 115 per cent at 5.5 per cent, no limit on portfolio sizes for landlords and let-to-buy products for accidental landlords.

New Street plans to launch into the residential mortgage market in 2017 with the intention of providing intermediaries with an alternative to traditional mainstream and specialist lenders.

The lender initially planned to enter residential lending this year.

Paradigm head of mortgage services John Coffield says: “This is a traditionally busy time for the mortgage market and advisers want to ensure they have access to the newest brands who are offering cutting-edge propositions tailored to the specific needs of their clients.

“New Street Mortgages certainly fits the bill in this regard, and as part of The Northview Group, comes with a pedigree that all mortgage advisers should be familiar with.”