In a marketplace where there is a shortage of mainstream funding, Paradigm believes many clients could benefit from the increasing array of product choice and growing levels of competition in the short-term market.
Past months have seen a number of new opportunities opening up for advisers in the bridging, commercial, short-term and property development sectors which could offer access to funding for those who may not be able to secure finance through more traditional routes.
Paradigm is urging its members and all other advisers, to educate themselves about the sector and it has also suggested members actively consider the relationships Paradigm already has with a number of these propositions.
Paradigm offers its members access to a number of short-term lenders and has recently signed a strategic alliance with short-term asset finance provider, borro, which provides non-status loans secured against assets such as jewellery, luxury watches and gold.
Bob Hunt, Chief Executive of Paradigm Mortgage Services, commented:
“We now operate in a marketplace where the mainstream lenders are not always able to accommodate the finance wants and needs of many potential clients. Liquidity is still not what we would wish however there are growing opportunities to secure finance through different routes and this has been made possible by the growing number of lenders operating in the short-term finance sector.
"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.
"We would urge any broker considering their client’s options in the short-term finance sector to ensure they, firstly, do their homework given there are a growing range of opportunities, and to, secondly, contact Paradigm so we can help point them in the right direction towards those providers we already have existing relationships with.
"Opportunities are available however this is a market which requires know-how and expertise in order to secure the most appropriate deal for a client.”
