Paragon Bank Reviews

Paragon Bank is recognized for its specialized lending solutions and customer-centric approach, offering reliable financial products tailored to diverse needs.

Here are the Trustpilot Reviews from Paragon Bank:

Here are the Reviews from Paragon Bank:

Absolutely love your accounts easy to set up, and use via phone or tablet. only 2 things I would like to see, is the bouncing back of money been done quicker especially over the weekend (my fault...

Sharon Johnson

I and my Husband have been with Paragon for a number of years. I am very confident with Paragon and are very happy to continue. My recent account maturity was handled very well and easily transferred...

GC Geoff Coxshall

It is exceptional nowadays to be able to telephone a helpline where the call is answered promptly and the person answering is knowledgeable about the company's offerings and can answer any questions a...

IF Ian F

I’ve been with Paragon Bank for four years now and have been consistently impressed with their service. I currently have a 120-day notice account and an ISA account, and both have been easy to ma...

Aga Ost

Staff members helpful and customer friendly

AN AK Nandi

Fixed rate renewal rates are just not competitive. Most banks offer existing customers and incentive to stay...

DW Dr Wedlock

Explore Paragon Bank's Finance Solutions:

Buy-to-Let Mortgage

£30,000 – £4,000,000 per property (up to £10,000,000 portfolio exposure)

Residential Mortgage

£100,000 – £2,000,000

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Explore Paragon Bank's Finance Solutions:

Loan Type:

Buy-to-Let Mortgage

Loan Range:

£30,000 – £4,000,000 per property (up to £10,000,000 portfolio exposure)

Loan Terms:

5 – 30 years

Minimum Turnover and Trading Age:

No explicit turnover threshold; typically minimum 12-month landlord experience with at least 1-2 existing properties

Interest Rate:

From 5.25% variable to 7.50% fixed (representative 6.9% APRC)

Fees:

Product fee 0% – 2%; application fee £299 – £2999; valuation fee (scale); early repayment charge 3% – 5% during initial term

Loan Type:

Residential Mortgage

Loan Range:

£100,000 – £2,000,000

Loan Terms:

5 – 30 years

Minimum Turnover and Trading Age:

Minimum 12 months’ continuous employment or 2 years’ self-employment (for professionals)

Interest Rate:

5.39% – 7.99% fixed or discounted variable (representative 7.5% APRC)

Fees:

Product fee £999 – £1999; valuation fee; early repayment charge up to 5% of balance in fixed term

Loan Type:

Development Finance

Loan Range:

£1,000,000 – £35,000,000

Loan Terms:

Up to 30 months (including up to 6 months sales period)

Minimum Turnover and Trading Age:

Developer track record of at least one completed scheme of similar scale

Interest Rate:

From 7.00% p.a. margin over LIBOR/SOFR equivalent (rolled-up); arrangement fee 1% – 2.5%

Fees:

Arrangement fee 1% – 2.5%; monitoring surveyor fees; exit fee 1% of GDV or loan; legal costs

Loan Type:

Structured Property Finance

Loan Range:

£1,000,000 – £35,000,000

Loan Terms:

1 – 5 years (amortising, interest-only or bullet)

Minimum Turnover and Trading Age:

Experienced property investors with minimum £2m portfolio value

Interest Rate:

6.50% – 9.00% p.a. (floating or fixed); arrangement fee 1% – 2%

Fees:

Arrangement, valuation, legal and exit fee up to 1% of debt outstanding

Loan Type:

Asset Finance (Hire Purchase, Finance & Operating Lease)

Loan Range:

£25,000 – £2,000,000+ per facility

Loan Terms:

12 – 84 months

Minimum Turnover and Trading Age:

12 months’ trading history and minimum £250,000 annual turnover

Interest Rate:

6.00% – 15.00% flat rate equivalent (risk and asset dependent)

Fees:

Documentation fee £150 – £295; option-to-purchase fee £100; early settlement interest penalty

Loan Type:

Motor Finance (Hire Purchase & PCP via Dealers)

Loan Range:

£1,000 – £150,000

Loan Terms:

12 – 60 months

Minimum Turnover and Trading Age:

Consumer product; for business fleets evidence of trading and affordability required

Interest Rate:

6.9% – 18.9% APR (dealer set within Paragon parameters)

Fees:

Option-to-purchase fee £10; potential dealer administration fee

More About Paragon Bank

Paragon Bank PLC is a UK-regulated specialist lender and savings bank established in 1985, focusing on property lending, asset finance, and development funding for professional customers. It is authorised by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the PRA. Paragon serves experienced landlords, developers, and SMEs mainly through intermediaries and provides a broad product range including mortgages and development loans. For more on lenders and their offerings, see Lenders.

Key features of Paragon Bank PLC

Paragon offers practical tools and lending features that support brokers and customers through the application lifecycle. The bank's capital strength and wide product range contribute to funding stability and flexibility.

Specialist underwriting and flexible structuring suitable for complex transactions. See development finance options.
Broker and developer portals with document upload and real-time case tracking. Review how to apply for business loans.
Competitive fixed and variable rates plus a broad range of asset and motor finance products. Details on asset finance.

Funding eligibility

Borrowers typically qualify if they can demonstrate relevant trading history or experience and meet turnover requirements, which vary by product. Paragon primarily serves professional or experienced borrowers with established portfolios or businesses. Understanding guarantees and collateral is important to eligibility assessments.

Minimum 12-months landlord or trading experience for most products. See loan eligibility requirements.
Minimum annual turnover usually £250,000 for asset finance. More info on business turnover requirements.
Personal or director guarantees frequently required. Guidance available at understanding personal guarantees in business loans.

Loan options

Paragon Bank PLC provides a range of specialised loan products addressing various professional funding needs. Loan amounts, terms, and rates vary depending on the loan type.

Buy-to-Let Mortgage: £30,000 to £4,000,000 per property, 5 to 30 years, rates from 5.25% variable to 7.50% fixed. More about buy-to-let mortgages.
Residential Mortgage: £100,000 to £2,000,000, 5 to 30 years, fixed or variable rates between 5.39% and 7.99%. See residential mortgage options.
Development Finance: £1,000,000 to £35,000,000, up to 30 months, from 7.00% margin over LIBOR/SOFR equivalent. Learn about development finance.
Structured Property Finance: £1,000,000 to £35,000,000, 1 to 5 years, 6.50% to 9.00% interest. Available for complex property portfolios. Details at structured property finance.
Asset Finance: £25,000 to over £2,000,000, terms 12 to 84 months, rates from 6.00% to 15.00%. Review asset finance products.
Motor Finance: £1,000 to £150,000, 12 to 60 months, APR between 6.9% and 18.9%. Offered via dealers only. Explore motor finance.

How to apply

Applications are primarily made through approved intermediaries such as brokers, developers, and dealers. Funding times vary by product, and a range of documents is required to support underwriting.

Submit your application via an intermediary. Learn about the loan application process.
Provide necessary documentation including accounts, statements, and identification. See application documents needed.
Await loan approval, which can take from 24 hours for some asset finance to up to 5 working days for complex property loans. Understand typical loan approval timelines.
Sign funding agreements and complete legal formalities to draw down funds.

Funding Agent's view

Paragon Bank PLC serves professional and established borrowers needing tailored lending solutions, particularly in property and asset finance. Its products suit landlords, developers, and SMEs prepared for security requirements and fees. Those seeking loans should carefully assess eligibility and fees, using resources such as business calculators, loan eligibility criteria, and business loan options to make informed choices.