Paradigm has added the Cumberland Building Society to its lender panel, making its specialist holiday let mortgage proposition available to member firms.
The Cumberland has over 25 years of experience in holiday let lending and offers mortgage intermediaries access to support via its Intermediary Hub, which includes updated industry insights, case studies, team Q&As, and service updates.
The Cumberland lends up to 75% LTV on holiday let properties of traditional construction across Scotland, England & Wales (including the Isles of Wight, Anglesey, Arran, Mull, Skye, Harris & Lewis).
It also offers mortgages to first-time investors and portfolio landlords, alongside financing for non structural improvements, for example, pet friendly upgrades, eco features or amenities like hot tubs and luxury finishes that can enhance revenue potential.
It provides manual underwriting on all cases, allowing more complex or non-standard lending, including split-title properties, multiple letting units, limited-company finance or inter-company deposit loans.
The Cumberland’s dedicated intermediary service also includes a relationship model with one dedicated relationship manager and a single-point contact, access to case studies via the Intermediary Hub including affinity tools and underwriting criteria, a full solicitor panel list easily searchable through the portal, and a suite of ready-to-use forms covering mortgage applications, packaging guides, deposit forms, plus switch and illustration tools.
Richard Howes, director of mortgages at Paradigm Mortgage Services, commented: “We are very pleased to announce this new partnership with the Cumberland Building Society, focused specifically on its Holiday Let lending offering. In an environment where around a third of UK adults now use holiday rentals, and bookings and revenue continues to grow, their specialist offering positions intermediaries and their clients to capitalise on a thriving and resilient sector. The Cumberland’s manual underwriting, tailored criteria and strong intermediary ecosystem will ensure Paradigm member firms can confidently place cases that others might struggle to assess.”
Grant Seaton, head of intermediary lending at the Cumberland Building Society, said: “As part of our continued growth, we are delighted to announce our partnership with our first mortgage club, Paradigm. This collaboration represents another milestone in our commitment to improve the intermediary experience for the brokers we work with.
“At The Cumberland you’ll hear us refer to kinder banking. It’s something that permeates into everything we do around holiday let lending and is especially relevant as we endeavour to make our brokers’ lives easier. Our real people approach is very much part of this. You’ll find it in the support of our knowledgeable team, throughout our fully relationship-managed service, and during our manual underwriting process.
“We can consider each case on its own merit through our common-sense approach. We also do our best to resolve issues quickly and efficiently, acting as an extension of broker teams. Kinder banking for intermediaries.”
