Paradigm Mortgage Services has officially launched to market today, with 500 individuals already signed up.
The Paradigm proposition is open to directly authorised firms offering intermediaries access to lenders covering the whole of the market, coupled with a range of mortgage-related support services.
Paradigm is unique in that its members will share in the capital growth of the business via a discretionary trust and, by joining and using Paradigm, will be building a share in the business.
Paradigm offers firms two types of membership. Associate membership gives firms an equal share in the incremental revenue they generate throughout the year. For tax efficiency, once a year associate members will receive a payout which reflects the revenue they have generated.
Partnership Membership has the full benefits of Associate Membership but with the added bonus of accruing equity in Paradigm Mortgage Services through the limited liability partnership, held in a discretionary trust. This means partners will fully participate in the value and growth of the company.
Paradigm’s support services are provided via a diverse range of commercial partners in the following areas: back-office, compliance, conveyancing, packaging and sourcing systems.
Chief executive Bob Hunt says: “Those firms who join Paradigm will not only benefit from market-leading procuration fees, exclusive products and full support services, but they will also be building their own share in the capital growth of the business. This is a brand new development for directly authorised firms and we are delighted to say that 500 registered individuals have already signed up to Paradigm Mortgage Services.
“Paradigm Mortgage Services is completely free to join and, whichever level of membership is chosen, firms can be reassured that they are getting the best service levels in the market from our highly experienced team. Plus, unlike other propositions, members will share in our success. We look forward to working with our partners, both providers and members, in developing Paradigm Mortgage Services for the benefit of all.”