Paragon’s full product range of buy-to-let mortgages will be available to Openwork’s 2,500 mortgage advisers, with processing handled by Paragons’ subsidiary TBMC.
Commenting on the move, Paul Shearman, mortgage, protection and general insurance proposition director at Openwork said: “Paragon is one of few lenders to have come through the last few years with an enhanced reputation and I am very pleased to welcome the company back into the market and back on panel.
“With the rental market increasingly buoyant, we have seen more BTL products coming to market but the professional landlord still lacks options. Paragon’s willingness to take on portfolios, HMOs and Limited Company Loans is therefore a great boost to our advisers. We are also pleased to be able to support TBMC who will process the Paragon cases.
“We are about to embark on our Autumn mortgage, protection and GI roadshows, which will be a great opportunity to update our advisers on the recovery in the buy-to-let market and the role that Paragon and TBMC can play in helping advisers to re-build their income in the sector.”
Julian Rance, sales director at Paragon, commented: “The distribution landscape has altered significantly in the last couple of years, with many players having either withdrawn, been acquired or merged. Openwork is emerging from the credit crunch in an extremely strong position and we are therefore very pleased to be able to start re-establishing our relationships centrally with Openwork, its advisers and clients.”
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