Paragon appoints Colin Sanders and Sundeep Patel to develop bridging proposition

Paragon Bank has appointed Colin Sanders (pictured above, left) to spearhead the development of a new bridging proposition.

Colin joins Paragon with more than three decades of specialist lending experience after having previously led bridging lender Omni Capital as its CEO, before founding Tuscan Capital and selling the businesses to Allica Bank.

He is joined by Sundeep Patel (pictured above, right), who has more than 20 years’ experience working with intermediary partners across specialist markets, including senior roles at Together, Precise Mortgages and United Trust Bank, as commercial director.

The bank said further appointments will follow as Colin develops the bridging team, including a head of credit.

Colin and Sundeep will pilot the bridging proposition with a select group of intermediaries during the final quarter of the year before a full launch in 2027.

The objective of the new proposition will be to provide fast, dependable funding for developers, surveyors, architects, planning consultants and builders.

Colin commented: “Our proposition will be built around what brokers and customers consistently tell us they need — straightforward communication, quick decisions, experienced people and reliable execution.

“With the backing of a FTSE 250 lender and all the experience and credentials that come with that, we have an opportunity to build a bridging finance business that is agile and committed in the long-term.

“Paragon is a highly respected bank and a recognised pioneer in specialist lending, with a strong reputation for supporting customers and intermediaries alike.

“The business has identified a clear opportunity for a trusted and established brand to further support the evolving needs of customers and brokers within the bridging sector.”

The launch forms part of Paragon’s wider diversification strategy, creating new opportunities for existing intermediary partners who already place BTL or development finance business with the group.