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Paragon simplifies buy-to-let product range and refreshes broker site

  • 10/06/2024
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Paragon simplifies buy-to-let product range and refreshes broker site
Buy-to-let lender Paragon has simplified its mortgage range by removing the differentiation between portfolio and non-portfolio products.

With the consolidation of the buy-to-let ranges, the lender said that it would be able to inform brokers which deal is suitable for their client at the beginning of the process.

Paragon has also been able to cut its product guides from nine to three, covering buy-to-let, switch or further advance mortgages.

The lender has also refreshed its intermediary website with improved navigation to help brokers find the most commonly requested information, products, criteria and calculators.

Contact details and team profiles are also more accessible so it is easier for brokers to find the right person to respond to their enquiry.

Louisa Sedgwick (pictured), 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.”

Last week, Paragon reported new mortgage lending in the first of 2024 of £649.3m, a decrease from £1.02bn in the same period last year. However, the company reported a buy-to-let pipeline of £874m.

In a series of videos for Mortgage Solutions, Sedgwick said that the buy-to-let market was still a “very profitable market”, especially for professional landlords.

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