The Intermediary –- June 2026 - Flipbook - Page 34
In Profile.
Paragon Bank
Jessica O’Connor speaks with Sally Wright, head of
distribution at Paragon Bank, about why resilient landlords
remain central to the future of buy-to-let
W
hile volatility continues to
shape pricing and lender
behaviour across the
buy-to-let (BTL) industry,
demand for rental
homes remains strong, and experienced landlords
continue to adapt to changing conditions.
For Sally Wright, head of distribution at Paragon
Bank, that resilience is reflected not only in
landlord behaviour, but also in the way lenders and
brokers alike have evolved. Wright has witnessed
several market cycles, but despite the everchanging face of BTL, she remains confident in the
sector’s long-term fundamentals.
The Intermediary sat down with Wright to
discuss continued landlord adaptability, broker
opportunities and how Paragon is balancing
innovation with risk management.
Buy-to-let DNA
Wright’s route into specialist lending began long
before she joined Paragon. She built a career
spanning mainstream banking, residential lending
and buy-to-let, giving her a broad perspective on
how the market has evolved.
She was drawn to Paragon in part by its people
and culture, seeing the lender’s longevity as
evidence of its commitment to the sector.
Wright says: “Paragon [has] actually been
working in the buy-to-let
market for over 30 years
now. Our strapline at the
moment is ‘Buy-to-let
is in our DNA’ – and it
very much is. We are
buy-to-let through and
through.”
That commitment
is reflected in its
problem-solving
culture, Wright adds:
“We want to look at
every scenario and
see where we can help
the brokers and the
landlords out there.
SALLY WRIGHT
The Intermediary | June 2025
“Nigel [Terrington] has been leading the
business for that whole entire time, and that
culture comes right the way down the chain.”
Navigating volatility
That problem-solving mindset has been
particularly important in recent months, as lenders
have grappled with ongoing market uncertainty,
with pricing impacted by the ongoing conflict in
the Middle East. Nevertheless, while headlines
have focused on geopolitical developments and
swap rate movements, underlying buy-to-let
activity has remained relatively robust.
The latest UK Finance figures showed both
lending volumes and values increasing year-onyear, with nearly 60,000 new buy-to-let loans
worth £11.2bn completed during the final quarter
of 2024. Yet, Wright is equally clear that lenders
cannot afford to ignore the volatility that sits
beneath those figures.
She says: “Although the subsequent sharp rise in
interest rates will have impacted the demand, the
data still points to the buy-to-let market being and
remaining resilient. The broader market is shaped
by swap rates. These are influenced obviously by
both global, economic and political environments.
And it’s these signals that we at Paragon are
watching most closely.”
Indeed, the sheer speed at which markets now
move has fundamentally changed how lenders
operate. Wright explains: “In fast markets like
we’re experiencing at the moment, lenders can’t
rely on weekly updates because a product that’s
priced on a Monday can be completely loss-making
by Wednesday or Thursday that same week.”
That reality can create frustration for brokers
when products are withdrawn or repriced quickly.
However, Wright argues that responsiveness is
essential if lenders are to remain sustainable.
She says: “We do understand the frustration
for brokers and borrowers caused by lenders
pulling products very quickly and updating prices.
But unfortunately, it’s the lesser of the two evils,
because the market needs to remain financially
stable. We are listening to brokers, we’re listening
to landlords and we’re trying to reflect that in the
products and the criteria that we’re offering.”
Wright adds: “We’ve tried to introduce things
like broader LTV and fee options so they can make
