Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Paragon Bank Develops Bridging Proposition with New Senior Hires

Paragon Bank has appointed Colin Sanders and Sundeep Patel to lead the development of a new bridging finance proposition. The initiative will be piloted with a select group of intermediaries before a full launch in 2027.

Colin Sanders, who previously led Omni Capital as CEO and founded Tuscan Capital, will head the new bridging proposition at Paragon Bank. Sundeep Patel, who has held senior roles at Together, Precise Mortgages, and United Trust Bank, joins Sanders in piloting the project.

According to Paragon Bank, the new bridging proposition aims to provide fast and dependable funding for experienced property professionals, including developers, surveyors, architects, planning consultants, and builders. The bank has indicated that further appointments are expected as the bridging team is developed, with plans to eventually appoint a head of credit.

The pilot phase will involve working with a select group of intermediaries, with the intention of a broader market launch in 2027. Paragon Bank stated that the proposition will focus on straightforward communication, quick decisions, experienced personnel, and reliable execution.

This development is relevant to UK letting agents and inventory clerks as it signals increased access to bridging finance for property professionals, potentially impacting property transactions, refurbishments, and project timelines.