"Buy-to-let is increasingly becoming the domain of the portfolio landlord"
Paragon has appointed Richard Rowntree as its new managing director of mortgages as John Heron steps down from the role after 34 years with the firm.
Richard joins from the Bank of Ireland, where he was managing director of UK mortgages, and will be responsible for Paragon’s lending activities across buy-to-let, second charge and residential mortgages.
Richard has also held senior roles at RBS (Williams & Glyn), Santander, Lloyds TSB and Halifax, and was the chairman of UK Finance’s mortgage product board in 2019.
Richard said he plans to further increase Paragon’s focus on portfolio landlords.
Richard said: “Paragon has carved out an exceptional reputation in the buy-to-let market over the past 25 years under John’s guidance and I am excited to be able to take that forward. Buy-to-let is increasingly becoming the domain of the portfolio landlord and, with our experience of working with these customers, we are perfectly placed to meet their needs.
“We’ve introduced a number of initiatives over the past year to improve intermediary and customer experience, such as the launch of the Intermediary Portal, and we will introduce further changes in 2020 to build on that.
“The PRS is an important component of the UK’s housing market catering for a diverse range of renters and the introduction of buy-to-let finance has led to significant improvements in housing standards in that sector over the past 25 years. Portfolio landlords have the greater propensity to purchase and it is this group that will increasingly add to the supply of decent homes in the PRS.”