Paragon adds bridging finance credit and underwriting heads ahead of 2027 launch

Paragon Bank has added two senior hires to its bridging finance team. The appointments come as it moves closer to a full market launch planned for 2027. Swaraj Dada joins as head of bridging credit and Kate Cooper as senior bridging underwriter. The appointments sit beneath Colin Sanders, who joined the Solihull-based bank in August 2026 as managing director of bridging finance.

Dada brings 16 years of banking experience, including 12 in credit. According to Paragon, he was involved in the early-stage development of both AFIN Bank and Recognise Bank. He also previously held roles at RBS and Unity Trust Bank. As Head of Bridging Credit, he will oversee credit policy, risk management, underwriting, and portfolio oversight.

Cooper returns to Paragon, having worked in the bank’s mortgages division between 2015 and 2019. According to Paragon, she subsequently joined BIG Property Finance, where she focused on growing its bridging business. She also spent eight years at West Bromwich Building Society before entering specialist finance.

“Building the right team is fundamental to our ambition of creating the most trusted specialist bridging lender in the market,” Sanders said. “Swaraj and Kate both bring significant experience, deep technical expertise and a genuine understanding of what brokers and customers need from a bridging lender.”

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What does a FTSE 250 bank entering bridging finance mean for brokers?

The hires arrive as the UK bridging market navigates a more measured phase after years of rapid growth.

Bridging completions fell to £1.6 billion in Q2 2026, according to the Bridging & Development Lenders Association (BDLA). That was down from £2.3 billion in the same quarter a year earlier. The BDLA linked the softening to a slower housing market, with fewer enquiries and thinner transaction pipelines.

The underlying picture is more nuanced. Research by Karis Capital, published in 2026, found that new regulated bridging loans rose to £1.83 billion in the year to 31 March 2026. That was up from £1.75 billion in the prior period. And according to Interpath and BDLA Bridging Market Survey 2026, 52% of lenders reported increased origination volumes. Sentiment had stabilised, but the direction remained broadly positive.

For brokers, Paragon’s institutional profile raises a distinct question. Specialist bridging finance has historically been dominated by non-bank lenders. A FTSE 250-listed bank with established governance and balance sheet strength entering the sector could shift expectations, particularly around certainty of delivery. Brokers who have experienced delayed completions or last-minute repricing from smaller operators may find that proposition attractive.

What the launch means for the broker channel

The bridging finance sector has spent years moving away from its reputation as a last-resort product. It is now a mainstream funding route for auction purchases, chain breaks, and refurbishment projects.

“I’ve worked in bridging finance for the past six years and have seen the market mature significantly,” Cooper said. “Today, bridging is a genuine and increasingly mainstream funding solution for property professionals.”

Paragon’s proposition will sit alongside its Development Finance and SME Lending businesses within its Commercial Lending division. The bank plans to pilot the product with a select group of intermediaries in Q1 FY2027. A full rollout is expected in calendar 2027.

“The market is increasingly looking for credibility, reliability and lenders that do what they say they will do,” Dada said. “Paragon’s reputation for integrity and sustainability gives us a unique opportunity to bring greater confidence to the bridging sector, while building a proposition that supports customers and brokers for years to come.”