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Paragon BTL business surges 90.5%

Paragon Mortgages completed £359.8m of buy-to-let business in the 12 months to the end of September, 90.5 per cent more than the £188.9m completed the year before.

Announcing its year-end results last week, the specialist lender’s parent company, Paragon Group of Companies, also said it is making “good progress” in its application to gain a banking licence.

The group made a pre-tax profit of £105.4m for the year ending 30 September, up 10.4 per cent on the £95.5m profit a year earlier.

The proportion of loans in arrears of three months or more stood at 0.48 per cent at the end of September 2012 falling to 0.35 per cent at the end of September this year. The Council of Mortgage Lenders’ average is 1.16 per.



Planning permissions up 31% says HBF

Planning permissions for new homes are up 31 per cent year-on-year according to the latest data from the Home Builders Federation. In the third quarter of 2013 there were 44,251 permissions on 826 sites, which is up 19 per cent on the 37,053 granted the previous quarter and is the highest quarterly tally since 2007. […]

FCA in price comparison probe

The FCA has launched a thematic review into price comparison sites. The review will focus on motor, travel and home insurance and will involve 14 websites and a number of insurance providers and will look at whether websites’ focus on price means consumers are failing to get the best deals for their needs. FCA director […]

Independent Scotland would replace FCA

Scotland would ditch the Financial Conduct Authority and set up its own conduct regulator if its citizens vote in favour of independence next year. The Scottish government last week published a white paper setting out the implications of a “yes” vote in September 2014. It says an independent Scotland would look to retain sterling as […]

EDL founder Robinson admits fraud

English Defence League founder and former leader Stephen Yaxley-Lennon, know widely as Tommy Robinson, has reportedly admitted to committing mortgage fraud. According to the BBC, he has pleaded guilty to two accounts of conspiring to obtain a mortgage by misrepresentation from Abbey and Halifax. His address and the court where he appeared cannot be named […]


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