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Secure & Private

  • Reviews.io Review Star
  • Borrow £10,000 to £1,000,000
  • Flexible repayment terms up to 30 years
  • UK retail bank with expertise in property and personal finance
  • FCA & PRA regulated
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Authorised & Regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Free Price Compare is a credit broker, not a lender.

Who are Paragon Bank?

Paragon Bank is part of Paragon Banking Group PLC, a company listed on the FTSE-250. The group's main office is in Solihull. Paragon began in 1985. Since that time, it has grown to be one of the top names in the UK for financial products. Paragon works with people, landlords, and different businesses.

Paragon can do business because the Financial Conduct Authority (FCA) and the Prudential Regulation Authority let them. The company is known for working in specialist markets. Paragon helps landlords who need buy-to-let lending. It also supports businesses with development finance. The company gives homeowners choices for secured loans.

Paragon aims to offer banking that works for everyone. The team wants to give people flexible options. The service is easy to understand and follows all rules. Paragon helps people with diverse needs who look for a bank they can trust.

What types of loans does Paragon Bank offer?

1. Secured homeowner loans (second charge mortgages)

  • You can get a loan for an amount from £10,000 to £1,000,000.
  • You will have to pay back the loan, and the time for this can be up to 30 years.
  • The loan will be tied to the amount of value that is in your home.
  • You may use the loan for your financial needs like packaging your debts into one payment, fixing up your home, or spending on large buys.

2. Buy-to-let mortgages

  • Paragon is here to help people who have one or two properties. It also helps companies that have several.
  • There are products for portfolio landlords. There are also options made for specialist markets. This covers HMOs, or houses where more than one person lives together.
  • The loan terms are flexible. You can pick choices linked to the bank base rate, or you can go with Paragon’s own Standard Variable Rate.

3. Development finance

  • Paragon gives lending options for development finance projects. These loans can be a good fit if you are a professional investor who needs money for new builds or large property changes.
  • Repayments and loan plans can be made to fit each project's financial needs.

4. Personal loans

  • The financial products are made for smaller amounts, which can go up to £25,000.
  • You can use these when you have an unexpected cost, want to get a new car, or plan a holiday with your family.
  • There is clear paperwork, and you get an easy way to apply for it.

5. Business and asset finance

  • The service gives leasing. It also provides asset-backed finance for SMEs.
  • It runs with the help of a group of intermediaries and brokers.
What types of loans does Paragon Bank offer

Loan Eligibility Criteria

Applicants must:

  • You must be at least 21 years old.
  • You must live in the UK and have a steady address right now.
  • You need to show that you get income and give a credit report.
  • You should have enough equity if you want secured borrowing.
  • You must pass checks that look at your monthly payments, how much you spend, and how good your credit is.

Paragon takes time to look at all the details to see if you can pay back the loan. They use this careful look to be sure the loan terms are good for you. By doing this, Paragon can match the loan terms with what you can pay back.

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Key Features of Paragon Bank Loans

  • You can get a loan from £10,000 to £1,000,000.
  • The loan terms are easy to change and can last as long as 30 years.
  • You can choose a rate linked to the bank base rate or pick the Paragon Standard Variable Rate.
  • There are products ready for diverse needs, which makes them good for landlords, homeowners, and businesses.
  • All fees are simple and shown up front, and any early repayment charges are made clear.
  • When your loan is agreed, the money comes to you by bank transfer.

What customer reviews say about Paragon Bank’s loan services?

Customer feedback highlights:

  • Many people say that they get good help from experts at Paragon. The help is there for landlords and property investors.
  • A lot of people feel happy with the way Paragon talks to them. They say the company is clear when it talks about its financial products.
  • Borrowers who have strong profiles can get good rates.
  • Some reviews say that it may take more time for applications in specialist markets, like buy-to-let. This happens because there is a lot of checking in the underwriting process.
  • Most people feel Paragon is a lender that people and businesses can trust.

How do Paragon Bank's secured loan rates compare to other lenders?

Paragon Bank is known for its good rates. A lot of people say it is one good place to get a loan. You can find some of the best deals with Paragon, especially for property or for safe, secured loans. If you want to borrow, Paragon Bank is the one many people use. Paragon Bank works to give good deals to anyone who needs borrowing.

Lender Type Typical APR Range Notes
Paragon Bank 6% – 10% APR Rates depend on equity, loan terms, and profile. Options tied to bank base rate or Paragon Standard Variable Rate.
Major banks 5% – 9% APR May offer slightly lower rates but stricter lending criteria.
Specialist lenders 7% – 12% APR Often accept more complex cases but at higher costs.

Paragon gives good prices and is also a bit flexible. It sits between the big banks and the smaller lenders.

Does Paragon Bank offer a loan calculator to compare repayment options

Does Paragon Bank offer a loan calculator to compare repayment options?

Yes. Paragon Bank provides access to a loan calculator as part of its lending process. A calculator can give you an indication of what your monthly repayments might look like by considering factors such as:

  • The loan amount you wish to borrow
  • Your chosen loan terms
  • Whether you select a fixed rate, a bank base rate linked product, or the Paragon Standard Variable Rate

These tools can also show how early repayment charges or making overpayments could affect the overall cost of borrowing.

It’s important to remember that calculators are for guidance only. The actual interest rate and repayment details are confirmed once you complete a full application and receive a formal loan offer.

Are there any special features or benefits to choosing Paragon Bank for a mortgage?

Yes. Paragon stands out in some key areas.

  • The team has a lot of knowledge in specialist markets. This covers things like development finance and buy-to-let lending.
  • The service is flexible to meet diverse needs. The team can help with almost anything, from personal loans to landlord portfolios.
  • All financial products come with clear paperwork. The company works to make sure everything is open and easy to understand.
  • A strong group of intermediaries is there to support people and borrowers in niche specialist markets.
  • Some lending options follow the bank base rate. This can help borrowers who want lending products that change with the market.

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How does the application process work?

  1. Loan enquiry – You can apply online or with help from an intermediary. Pick the loan amount you want and how long you need to borrow for.
  2. Credit assessment – Paragon will look at your credit history to see if you can afford the loan.
  3. Valuation – If the loan is secured, they will check the value of the property to see if you have enough equity.
  4. Formal approval – The loan offer is sent to you. It shows the rates, payments, fees, and all the main information.
  5. Funds released – You get the money through bank transfer in a few business days.

Repayment Options

  • Each month, you will pay back a part of the loan and the interest on it.
  • You can choose a fixed rate, the bank base rate, or a rate linked to the Paragon Standard Variable Rate.
  • The terms run from 1 year up to 30 years.
  • You may pay extra on your loan, but there can be early repayment charges.
  • If you want, you can ask for full loan repayment schedules.

Benefits of Paragon Bank loans

  • The bank is controlled by the FCA and PRA. It has been in the business for many years.
  • There is a wide range of financial products for people and businesses. You can get many lending options here.
  • The bank has experience in development finance and buy-to-let lending.
  • The choices are set for diverse needs. They work for smb’s and for individuals too.
  • The bank is open about early repayment charges and other fees. You will always know what you get.
Benefits of Paragon Bank loans

Risks and Cons to Consider

  • Secured loans use your property, so the lender has your home or another thing as collateral.
  • Rates can be high, mainly if the application process is tough or if there is more risk for these borrowers.
  • The application process for specialist markets can take more time than it does with some other lenders.
  • This is not always cheaper when you look at what most major banks offer for their top borrowers.

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What are the typical interest rates for Paragon Bank personal and secured loans?

Paragon Bank puts its rates for personal loans and secured homeowner loans out in a way that is easy to see. The rate you get will be based on your credit history, how much you want to borrow, and your loan terms. This is what you can expect from paragon bank when it comes to rates and the things that may affect them.

Loan Type Typical APR Range Notes
Secured homeowner loans (second charge) 6% – 10% APR Larger borrowing amounts (from £10,000 up to £1,000,000). Rates can be fixed, linked to the bank base rate, or to the Paragon Standard Variable Rate. Strong equity and good credit history help secure lower rates.
Personal loans 7% – 15% APR Borrow smaller amounts (up to around £25,000). Rates tend to be higher than secured loans because they are not backed by collateral. Your credit rating and stability of income have a big influence here.

Borrowers with the best profiles will get rates close to the lowest in the range. If your credit report is not strong or your application shows more risk, you could get rates near the higher end.

FAQs about Paragon Bank Loans

Paragon is not just about buy-to-let. The company works in specialist markets and offers much more. Paragon gives personal loans to people. You can also get secured loans from it. The company offers development finance as one of its main options.

Yes, some products do have early repayment charges. It will depend on the terms of the agreement.

Paragon works with a group of intermediaries. This group has brokers and people who give financial advice. They help Paragon to sell and offer its products.

Borrowers have a few choices when it comes to the interest rates. They can go with a fixed rate, pick a rate that follows the bank base rate, or choose the Paragon Standard Variable Rate. The rate they get will depend on which Paragon product they get.

Yes. Paragon follows UK rules set by the FCA and PRA. With paragon, your money is safe. All customer deposits are protected by the UK compensation scheme.

Important Notice: Think about it before you use your home to back up other debts. If you do not keep up with your repayments on a mortgage or any other debt that uses your home as security, there is a chance you could lose your home.

Free Price Compare is checked and approved by the Financial Conduct Authority (FCA). We help people look for credit, but we are not a lender.

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Page last updated on: 29/08/2025

Page reviewed by: Andrea Troy

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