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Richard Rowntree takes helm as Paragon MD

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  • 14/01/2020
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Richard Rowntree takes helm as Paragon MD
Richard Rowntree has taken over as managing director of mortgages at Paragon following John Heron's retirement this month.

 

Rowntree (pictured) joins from the Bank of Ireland, where he was managing director of UK Mortgages, and will oversee Paragon’s lending activities across buy-to-let, second charge and residential mortgages. 

Heron announced his retirement after 34 years with Paragon last May, with Rowntree named as his successor in September.

Rowntree has also held senior roles at Santander, Lloyds TSB, Halifax, the Williams & Glyn division of RBS, and was the chairman of UK Finance’s mortgage product board in 2019.   

He said he plans to further develop Paragon’s focus on portfolio landlords as the lender expected demand for private rented property to grow following 2019, where the segment accounted for 89 per cent of its new lending. 

Rowntree said: “Paragon has carved out an exceptional reputation in the buy to let market over the past 25 years under John’s guidance and I am excited to be able to take that forward.

“Buy to let is increasingly becoming the domain of the portfolio landlord and, with our experience of working with these customers, we are perfectly placed to meet their needs. 

“Portfolio landlords have the greater propensity to purchase and it is this group that will increasingly add to the supply of decent homes in the private rental sector.” 

 

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