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Paragon acquires RBS unsecured loan portfolio

The Paragon Group of Companies has acquired further unsecured consumer loans, through its Idem Capital Securities subsidiary, from The Royal Bank of Scotland.

The consideration, which is being financed from Paragon’s cash reserves and which represents the value at which the acquired loans will be taken on to the group’s balance sheet, is £38,000.

The investment is expected to be earnings enhancing in the current financial year.  It is anticipated that there will be opportunities to make further modest acquisitions under the agreement and these will be announced as they occur.

The acquisition follows the announcement, on October 27 2011, of the acquisition of a portfolio of loans from RBS for consideration of £43.2m and subsequent announcements of further modest acquisitions of unsecured consumer loans from time to time under the forward flow agreement. 


HSBC approves record £4.9bn in Q1

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Mortgage Brain’s ‘find a broker’ app is out this month

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Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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