Paradigm members will now be able to access the personal service provided by Bond Finance, with the group able to source comprehensive solutions for clients in a number of areas including: commercial mortgages, medical practice funding, business finance, investment properties, development finance, factoring and trade finance, leasing and asset finance, vehicle finance and funding using the Enterprise Finance Guarantee scheme.

As an exclusive introductory offer to Paradigm members, Bond Finance will pay 40% of its fee to the introducing adviser on completion of the deal. This offer is valid until 31st March 2010; thereafter Paradigm members will receive 25% of Bond Finance’s minimum 1% fee charged to the client.

John Coffield, Head of Paradigm Mortgages, commented:“In these tricky times, many firms are looking to access finance for their clients in the commercial arena but may not have the necessary contacts and expertise to access the best deals and lending terms available. Now through Bond Finance, Paradigm is offering a route to market for those clients and we are sure many of our members will be keen to access Bond Finance’s professional service on a regular basis.”

Nicholas Kounis, Director of Bond Finance Ltd, said:“The last 18 months have been very challenging for even the most resourceful of mortgage brokers. Many brokers have been forced to diversify into other areas of lending such as commercial and corporate finance; secondary lending such as asset finance and lease finance, development finance and short-term finance such as bridging loans. 

“Brokers trying to diversify into these areas may well have found themselves entering unfamiliar territory. Even more than with residential mortgages, market knowledge is the key to successfully placing commercial funding. Each lender lends based on an ever-changing set of criteria, regularly changing their appetite for each commercial sector.

“Much of the terminology is different to the residential sector and it’s important to be familiar with the significance of such terms as covenants, yields, GDVs, interest-only periods, amortisation, etc. The immediate task is to establish very quickly whether a case can be placed or not without wasting too much time. This is not easy unless you are already active in the commercial sector and are familiar with the way banks work and think.

“We welcome business from brokers who are getting commercial enquiries, but do not want to handle them themselves. Our specialists get to the point very quickly and are used to working with non-commercial mortgage brokers and IFAs.”