Paragon Bank has appointed Colin Sanders to lead the development of a new bridging proposition, which will be piloted with a select group of intermediaries in Q4 before a full launch in 2027.

He joins the bank with more than three decades of specialist lending experience, having previously led Omni Capital as its CEO, before founding Tuscan Capital and selling the business to Allica Bank.

He is joined by Sundeep Patel, 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.

Gatehouse Bank has announced enhancements to its gifted deposit criteria, which will allow for a wider range of sources to be accepted.

Previously, gifted deposits were only accepted from close family members living in the UK.

However, the latest changes mean the bank will also accept gifted deposits from non-family members and eligible individuals living overseas from selected countries.

London Credit has enhanced its property development finance proposition, reducing rates across its mainstream development range and launching a new prime development offering.

The lender has reduced rates across its mainstream development range by 1% per annum. In addition, it has also introduced a new Prime Development offering, designed for lower-risk development projects, with rates from 10.00% per annum at 70% LTGDV and 9.50% per annum at 65% LTGDV.

London Credit’s development lending proposition continues to be managed by a specialist in-house property development team with extensive experience across the development sector.

Somo has appointed Dhiraj “Sunny” Dhanda as relationship director, further strengthening its regional presence across the Midlands and East Anglia.

He joins the firm from OSB Group, where he was a business development manager, supporting the Precise and Reliance brands.

Dhanda brings over 13 years of experience in the mortgage sector, inclduong seven years in specialist lending and intermediary-facing business development.

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