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Paragon simplifies buy-to-let products and revamps intermediary website

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Paragon Bank has simplified its buy-to-let mortgages proposition, removing the differentiation between portfolio and non-portfolio landlords to make it simpler for brokers to find products for clients.

With portfolio and non-portfolio mortgage products consolidated, Paragon will tell brokers which mortgage is suitable for their landlord client right at the start of the process. The lender has also been able to reduce its product guides from nine to three, with options for buy-to-let, switch or further advance mortgages.

The change is complemented by a refresh of Paragon’s intermediary website. Easier and more intuitive navigation helps brokers find the most commonly requested information, with products, criteria and calculators all a couple of clicks away. Easy-to-find contact details and team profiles reduce the time it takes to reach the right person to support any enquiries.

Louisa Sedgwick, Commercial Director at Paragon Bank, said: “The simplification of our buy-to-let product range was driven by conversations with brokers, as well as our culture of challenging how and why we do things, streamlining processes and making it easier to do business with us.

“Much of what we’ve done has taken place in the background, but brokers landing on our intermediary web page will notice it is cleaner and all the important information is easy to find.”

She added: “This is all part of our mission to provide brokers working with Paragon with the best possible experience. This latest improvement is one of many small steps we’re taking towards that and we’re getting closer to launching the first phase of our digital transformation programme. This represents a comparative leap because it will deliver a whole host of other efficiencies and greatly improve the way we work.”

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Notes to editors:

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 is 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.