Paradigm Mortgage Services has struck a partnership deal with digital mortgage lender, Molo Finance.
The mortgage club’s members will have access to Molo Finance’s digital mortgage services, including the technology it uses to speed up the lending process, providing a paperless, service.
The lender offers a range of buy-to-let purchase and remortgage products for individual and limited company borrowers. These cover both standard and houses in multiple occupation properties and it offers two and five-year fixed-rate options that range between 65% and 80% LTV.
Molo says its mortgages are underwritten entirely online, making real-time lending decisions, providing advisers quicker access to borrowing. It adds customers get a decision-in-principle in minutes while full application reviews can be processed in 24 hours.
The lender says it has integrated its services with a range of partners, such as Rightmove and Experian.
Paradigm Mortgage Services head of mortgages John Coffield says: “Technology is continually moving the mortgage market forward in terms of speeding up lender decisioning, underwriting and processing.
“Paradigm has long been advocates of technology and innovation which supports advisers and creates efficiencies within the mortgage application process.
“We are very pleased to announce this new partnership with Molo Finance, one of those lenders at the cutting-edge in terms of the technology it uses and the process it wants to deliver to both advisers and their clients.”
Molo chief executive and co-founder Francesca Carlesi adds: “Recognised as the best mortgage club in the UK, and with more than 15 years experience,
Paradigm is well-positioned to offer Molo products to its clients.
We’re excited to work with a broker who understands our mission and is forward-thinking in its approach.”
In April, Paradigm Mortgage Services added new lender MPowered Mortgages to its panel.
The mortgage club said its member would be able to access the digital platform’s mix of products, which includes non-regulated buy-to-let lending for individuals, limited companies, and portfolio landlords.
