"Firms can cover off their compliance needs and costs, whilst securing any remaining income generated over the course of the year."
Paradigm Mortgage Services is offering a free basic mortgage and protection compliance package to any DA firms that use the distributor as their exclusive payment route for mortgages and align their protection provider agencies.
Firms are able to receive Paradigm’s new mortgage and protection compliance package - costed at £900 plus VAT per year – free of charge over the course of the year due to the unique profit share scheme run by Paradigm.
At the end of the year, the firm will have accrued money via Paradigm’s unique profit share scheme and the compliance costs will be deducted from this amount.
The basic package includes access to Paradigm’s compliance support website and manuals that relate directly to mortgages including buy-to-let, protection, general insurance and equity release – all are tailored specifically to the firm’s permissions.
It will also gain access to Paradigm’s experts on its mortgage placement helpdesk and access to the technical helpdesk for compliance queries.
Paradigm can also offer a wide range of compliance and technical support services on top of this basic package including on-site and remote file checking, and full compliance audits.
Bob Hunt, Chief Executive of Paradigm Mortgage Services, commented: “DA firms can be confident that committing to using Paradigm means that the firm’s net position will not be worse off; if anything, they are actually highly likely to better off as a result. Our innovative new proposition means that firms can cover off their compliance needs and costs, whilst securing any remaining income generated over the course of the year.
“We believe this is a win-win position for all DA firms and alongside use of our compliance services, members also benefit from our full proposition including our comprehensive lender and provider panels, our high-quality mortgage helpdesk, top procuration fees, commercial terms and market-leading support."