Paragon launches challenger bank
Buy-to-let lender, Paragon, has launched a challenger bank that will focus on providing “straightforward” savings and loans for individuals and SMEs.
The bank will operate from headquarters in Solihull delivering lending products through established intermediary channels and savings products via the internet. Personal loans will be available through brokers later this year.
The new venture is led by managing director, Richard Doe, who was previously chief executive of ING Direct UK.