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Paragon signs up to Mortgage Industry Mental Health Charter

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Paragon Bank has signed up to the Mortgage Industry Mental Health Charter, a not-for-profit organisation helping finance businesses support their staff.

Paragon joins the seven co-founding firms plus a growing number of signatories that have all agreed to be bound by the MIMHC 6 governing rules which apply best practice health and wellbeing guidelines.

Pointing to research showing a deteriorating picture of mental health, particularly in the mortgage industry, the MIMHC aims to provide guidance, hints, tips and a simple framework so member companies can embrace then tailor bespoke services which best support their staff.

Liz Edwards, Head of People Operations at Paragon Bank said: “By signing the Mortgage Industry Mental Health Charter, we are making a profound statement about the importance of mental health and also taking tangible steps to implement practices and initiatives that support the well-being of our employees to create a healthy environment.

“We believe that collaboration and shared commitment are essential in driving meaningful change and we are thrilled to join MIMHC on this journey. Together, we can continue to raise awareness, reduce stigma and ensure that mental health remains a top priority in our sector.”

Martin Reynolds, co-founder of MIMHC and Chief Executive of SimplyBiz Mortgages, said: “We are delighted Paragon Bank have become a Signatory of MIMHC and have made a clear commitment to help improve the mental health of their workers and partners. From the conversations held with Liz and her team it is clear Paragon have some excellent existing mental health strategies and wellbeing processes, and we very much look forward to hearing about those during virtual Signatory events we have scheduled in the second half of 2024.” 

The MIMHC is owned by the Charter Committee and was launched to take forward the recommendations in the Stevenson and Farmer review “Thriving at Work”.

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Notes to editors:

The Mortgage Industry Mental Health Charter

  1. Develop mental health awareness among employees using activities and advocacy.
  2. Encourage open conversations about mental health and the support available to employees who may be struggling.
  3. Provide employees with good working conditions that encourage a healthy work life balance and opportunities for development.
  4. Promote effective people management through line managers and ensure there is a focus on physical and mental wellbeing as well as performance.
  5. Routinely monitor employee mental health and wellbeing through surveys and regular contact with managers.
  6. Have a named contact for Mental Health Support.

Paragon lends to private individuals and limited companies and provides mortgages suitable for single, self-contained properties, as well as HMOs and multi-unit blocks. Paragon can accommodate higher aggregate lending limits and more complex letting arrangements including local authority leases and corporate leases along with standard ASTs.

Paragon Bank PLC a subsidiary of the Paragon Banking Group PLC which is a FTSE 250 company based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group PLC has over £14 billion of assets under management, helping more than 340,000 customers to achieve their ambitions.