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Paragon reports 58% lending rise in Q4 2014

Buy-to-let specialist Paragon Mortgages has reported 58 per cent growth in lending in the final three months of 2014.

The lender advanced £222m between 1 October and 31 December last year, up from £140m in the same period a year earlier.

Parent company Paragon Group generated operating profits of £30.9m during that period, up 14.9 per cent from £26.9m in the final quarter of 2013.

Paragon Mortgages managing director John Heron says: “We continue to benefit from an increase in the scale of our funding capability and, as a result of the deposit-raising capability of Paragon Bank, improved diversity of funding.

“This has allowed us to continue developing our proposition for landlords and their intermediaries.”



BoE hawks revert to status quo on rate rise

The Bank of England hawks have removed their opposition to holding interest rates at record lows, with the Monetary Policy Committee voting unanimously to keep the Bank rate at 0.5 per cent. For the past six months, committee hawks Ian McCafferty and Martin Weale have voted in favour of a 0.25 percentage point rise in […]


Tavistock Investments set to acquire Financial Ltd parent

Tavistock Investments is on the brink of acquiring Standard Financial Group, the parent company of network Financial Ltd. The investment firm has entered a ‘conditional contract’ to buy Financial and has raised £2.7m to provide “additional regulatory and working capital for the acquisition”. The network was banned from recruiting new ARs and individual advisers for four-and-a-half […]

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Gross annual lending is down again

Gross annual lending fell for the second consecutive month in December, according to figures published last week by the Council of Mortgage Lenders.  Lending was down 1 per cent year-on-year to £16.5bn. Lenders advanced the same in December as the month before. This means the gross lending estimate for Q4 2014 is £51.6bn – down […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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