It joins as an associate before moving to full membership post-launch
Paragon Bank has become the latest lender to join the Bridging & Development Lenders Association (BDLA) as an associate member, ahead of its launch into the bridging market next year.
Once the company does launch its bridging business in full, it will move to full membership of the trade association. Paragon’s new bridging business will be led by an experienced management team.
The BDLA represents the interests of bridging and development lenders and their customers, bringing together lenders and associate firms from across the specialist property finance market.
A collective voice
Adam Tyler, CEO of the BDLA, said: “Paragon is an established and respected lender, and its decision to engage with the Association before entering the bridging market demonstrates the importance it places on being part of the sector’s collective voice.
“Confidence in our market depends on how lenders conduct their business and respond to challenges. Bringing experienced lenders into those discussions helps us represent the sector and promote responsible lending.”
Sundeep Patel, commercial director – bridging at Paragon Bank, said: “Paragon is entering the bridging market with a clear ambition and a long-term commitment. Our new division will be backed by the financial strength, governance and heritage of the wider FTSE 250 banking group, aiming to give brokers and customers confidence that we have the foundations to support them over the long term.
“We want to set the industry standard for customer experience. Joining the BDLA before launch reflects our commitment to playing an active role in promoting professionalism and responsible lending across the sector.”
