Blemain Group Offers Help for Money Partners and Paragon Brokers

Following the announcements that Money Partners ceased lending for an undetermined period on 20th February and Paragon Personal Finance stopped taking new applications from 27th February, the Blemain Group of Lenders has offered to consider any cases which brokers are struggling to place.

Gary Bailey, Director at Blemain Group said:

"Some recent coverage of these withdrawals has mentioned the lack of alternative lenders, however Blemain Group are still very much open for business.

"Cheshire Mortgage Corporation and Blemain Finance may provide an alternative for brokers who have placed business with Money Partners or Paragon. Cheshire Mortgage Corporation can cater for self-cert, non-standard constructions and any status of client, from prime through to heavy adverse. Blemain Finance will be happy to look at appropriate cases from brokers who submit business to Paragon in the hope that we can help them to complete some of the cases and continue to help their secured loan clients.

"It is sad that, due to the capital markets and prevailing economic conditions, more lenders have felt it necessary to pull out of their respective markets, making life even more difficult for intermediaries who are struggling to place business. Given these circumstances we would like to assure our brokers once again that Blemain Group remains wholly dedicated to the market, with funds to lend and a strong appetite for new business."

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