You may have seen in the news that The Paragon Group of Companies PLC has announced a strategic reorganisation and has now become the Paragon Banking Group PLC. This will include the coming together of the Paragon Mortgages and Mortgage Trust buy-to-let product ranges under a single, refreshed Paragon brand.

I wanted to let you know a little bit more about what this will mean for you, ahead of the rebrand launch on Monday:

1. Paragon Mortgages products will become Paragon portfolio: buy-to-let mortgages for landlords with four or more mortgaged properties and those operating as limited companies and limited liability partnerships. More complex propositions are also included, from HMOs to multi-unit blocks.

2. Mortgage Trust products will become Paragon non-portfolio: buy-to-let mortgages for landlords with up to three mortgaged buy-to-let properties. We lend on single self-contained properties in England, Wales and Scotland, to investors and landlords, including self-employed and consumer buy-to-let customers.

3. Our new look celebrates Paragon’s progress as one of the fastest-growing UK banking groups – but our day-to-day business remains the same.

4. We’ll be moving to one, new Paragon website and adopting a new email format. But don’t worry, our old contact details will automatically redirect. Our telephone numbers and your intermediary login details will not change.

5. Under new PRA regulatory rules, all landlords need to meet more exacting mortgage affordability criteria. From the end of September 2017, lenders also need to have a more detailed approach to portfolio landlords – those landlords with four or more mortgaged properties in their portfolio. We’ve already introduced our approach and will continue to keep things simple.

Look out for more information to follow. If you have any questions in the meantime fell free to call or email me.