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Paragon reports 65% increase in buy-to-let lending

Paragon Mortgages grew buy-to-let lending by 65.7 per cent in the six months ending 31 March 2015.

Its half-yearly results show it lent £446.2m in the period to the end of March, up from £269m over the same period in 2014.

The lender says it had a pipeline of £701.4m at the end of March – a 101.5 per cent increase on the same period a year earlier.

The group’s pre-tax profits hit £62.6m – up 7.6 per cent on the £58.2m reported a year earlier.

Managing director of mortgages John Heron says: “It has been a fantastic start to the year for our mortgage business and we are very well placed for the months ahead.

“We have seen a marked increase in our application levels as a result of Paragon delivering a broader and more competitive proposition to the buy-to-let market. This has been fuelled by the success of our strategy to expand and diversify our funding capability.”


Bob Young Fleet 2014

Fleet raises maximum acceptable age to 85

Fleet Mortgages has increased its maximum acceptable age at the end of the term to 85 and has cut selected rates by up to 80 basis points. Previously, Fleet Mortgages insisted borrowers were no more than 75 at the end of the term. The lender has cut 80 basis points off a three year-tracker and […]


Teachers BS makes shared ownership product available to remortgagers

Teachers Building Society has made its shared ownership product available for remortgage customers as well as home purchase. The product is discounted by 74 basis points from the lender’s standard variable rate of 4.99 per cent for the first three years and is available to 95 per cent LTV. There is no arrangement fee but […]


Analysis: Steps on the future path of Help to Buy

The campaign bunting, signs and party rosettes may have been packed away for a while but election fever shows no signs of faltering. We are now into the real nitty-gritty of Cabinet appointments, policy-making and the potential contents of the Queen’s Speech. Coupled with this is the anticipation of a second Budget in July; this time […]


Building societies eat into banks’ market share

Building societies are eating into banks’ share of the market and now account for nearly a third of all mortgage lending. According to figures published today by the Building Societies Association, mutuals lent £12.7bn to customers (£12bn in Q1 2014) in the first quarter, giving them a market share of 28.5 per cent. In the […]

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]


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