The lender confirmed that there are currently no plans to offer second charge loans on buy-to-let properties.
Ahead of the product launch and the transferral of the regulation of secured loans from the Office of Fair Trading to the Financial Conduct Authority Paragon held a series of broker workshops.
A spokeswoman for Paragon said: “We held four workshops with intermediaries to give them some background and useful information on what regulation by the FCA would mean.”
The FCA took over control of the whole consumer credit market on 1 April.
She added: “The new Consumer Credit and Systems and Controls sourcebook rules as well as the FCA’s Principles of Business and requirements were also discussed at the workshops to give some insight in to how the intermediary would be impacted.”
In February the Paragon Group announced it had been granted a banking licence by the Prudential Regulation Authority and subsequently launched its own bank brand.
