When was the business founded?
Paragon began life as a specialist residential mortgage lender in 1985. A pioneer in buy-to-let lending, in 1995 they launched their first mortgage products for UK landlords in the growing Private Rented Sector achieving a 10% share in the buy-to-let market by 2006.
In 2014, They began a strategic transformation to become a multi-faceted UK Bank which now has over £10bn of deposits and lends to UK landlords, developers and SME businesses across the country.
What type of lender are you?
How are you funded?
How would you describe your approach to loan underwriting?
They underwrite each deal thoroughly before credit committee and as such once a deal is approved, subject to the due diligence being as expected, they can move to completion swiftly.
As a relationship lender, they tend to be more client-focused, rather than asset-focused. They seek to back experienced developers over not just one project but multiple projects.
Why should a borrower use you over other lenders?
What aspect of your business are you most proud of?
Things you may not know about Paragon
They offer a 50% reduction on loan exit fees for developers delivering the most energy efficient homes under their Green Homes initiative. To qualify, developments must contain at least five private units and 80% or more of these must have an EPC rating of ‘A’.
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