Paradigm is now firmly established as one of the UK’s leading Mortgage Clubs and we believe that over the last year and particularly during COVID-19, we’ve excelled in our support to members and the wider industry. We have a dedicated, experienced and highly-motivated team who deliver a first class, profitable and valuable service.
We consistently support and add value to intermediaries by producing informative bulletins, webpages, videos and blogs around regulatory change, preparing firms for upcoming changes, e.g. we were at the forefront of providing free SM&CR support and other topics via events, emails, videos and eBooks. We’ve also focused on helping intermediaries tackle growing instances of fraud by offering Mortgage Fraud file reviews and publishing a Fraud eBook.
This year, we’ve grown our membership (now 1,591+ firms (30.09.2020)) and simultaneously increasing productivity/profitability from existing members – whilst providing high standards of support and innovation. Our membership terms remain unique; we reward loyalty by providing additional income via a transparent profit share structure (50% share of all overrides). We’ve improved our profitability by employing more rigorous contact management strategies. Consequently, Paradigm grew mortgage completions by a substantial +17.5% to £9.86bn (FY 2019/20) versus gross mortgage lending which fell by -1.1% in 2019. We remain focused on quality metrics, e.g. maintaining 24hour proc fee payments and investing in a Proc Fee Portal (November 2019).
Paradigm were amongst the first to create an extensive range of COVID-19 support, and have been the most comprehensive in doing so, including:
- Dedicated Webpage – showcasing Lender/Provider/Government information and useful resources. This was immensely popular and in April we subsequently saw our highest ever website pageviews.
- Mortgages – 4 matrices collating Lender updates, capturing details about valuations/AVMs, customer support, furloughed workers and more
- Protection – comprehensive matrix capturing how each Provider is dealing with COVID-19 (applications/underwriting/support etc.)
- Compliance – We launched a significant cost-saving initiative of 6 months genuinely free compliance support to help firms struggling with finances. This offers firms access to valuable regulatory protection and financial support and helps firms understand remote advice requirements.
- CPD Academy – More important than ever, over 1,200 intermediaries now use this to access Mortgage/Protection/Regulatory content and record completed activities (6,000+ hours logged). The Academy won an innovation award at AIG’s Quality Awards.
- Videos – high-level, personal updates from our CEO, a team message to explain our continued support & ‘Paradigm Insights’ (filmed interviews with key partners)
- Practical Support hub – aims to genuinely help on topics including: making the most of WFH, ideas for creating long-term client relationships, keeping kids entertained and charitable activities to do during lockdown (several people subsequently signed up to Give Blood).
We’re aware that several Lenders/Providers/competitors have been using our COVID-19 page and matrices with their own teams.
We consistently champion the DA community, contributing to press articles, focusing on finding positive solutions to matters including remuneration, fintech and government policy. Our CEO was recently appointed to the SMP board.
Despite our growing size, we pride ourselves in offering a personalised approach and delivering exceptional service, propagating a real sense of community amongst members. Our support particularly throughout COVID-19 has been unwavering. We try to ‘give something back’ by raising money at our events, e.g. charity golf day, coffee mornings, and our Reverse Advent’ initiative for The Trussell Trust.