Shariah-compliant, cross-border bank, Nomo, has joined the lender panel of mortgage distributor, Paradigm Mortgage Services, a leading provider of mortgage, protection and compliance services with a membership of over 2,000 firms representing over 3,000 advisers.
Nomo provides Shariah-compliant residential and BTL property finance to residents of Kuwait, UAE, Saudi Arabia, Qatar and Bahrain who are looking to purchase or refinance property in the United Kingdom (excluding Northern Ireland).
Customers do not need to have a UK credit footprint to be eligible for Nomo property finance, and it additionally caters for SPVs and portfolio landlords.
Paradigm has created a unique model to reward firms for the consistency, quality and loyalty of their business support. As well as offering a transparent profit share scheme, Paradigm provides a full range of services to support advisory firms, including a mortgage placement helpdesk, regular CPD events, compliance services and regulatory guidance.
Layla Hamidian at Nomo said:
“We’re thrilled to join Paradigm’s lender panel, giving us access to its member firms. We hope that in joining Paradigm, more advisers will consider how they can support the growing market of GCC nationals and expats investing in UK property. Shariah-compliant financing represents a valuable and often underutilised opportunity for brokers, providing an ethical finance option suited to a wide and diverse customer base.
“We would encourage those ready to learn about Shariah property finance to check out our brand-new Nomo Academy, dedicated to supporting brokers and intermediaries through the Nomo process.”
Richard Howes, Managing Director of Paradigm Mortgage Services, added:
"We are very pleased to welcome Nomo to the Paradigm lender panel and to provide our member firms with access to a specialist proposition that serves an important and growing customer segment. The UK continues to attract significant investment from GCC nationals and expats, and Nomo's ability to support these clients with Shariah-compliant property finance, including those without a UK credit footprint, provides advisers with access to a genuinely differentiated lending solution."
