500 brokers join The Mortgage Lender in first week

The Mortgage Lender's products cater for specialist requirements including standard status borrowers, the self-employed and lending into retirement.

Discussing the high demand, CEO of Paradigm Mortgages Bob Hunt said that "similar lenders in this space are typically pricing at 1 per cent higher.”

Pete Thomson, sales and marketing director, said: “We’ve had a fantastic response to our launch. There have been more than 2,300 visits to our website, we’ve had our first decisions in principle, completed applications and registered around 500 brokers on our system.

“The reaction to the product range and pricing has also demonstrated that the work we did in advance of launch, researching the market and working with brokers to find out which segments of borrowers they felt were underserved, was time well spent.”  

SimplyBiz Mortgages chief executive Martin Reynolds, added: “The products are clear and competitive They will offer more choice and will enhance competition in certain key underserved areas of criteria.”