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Paragon Bank reaches £1bn in savings deposits


Paragon Bank has collected £1bn in deposits in just under two years.

Since launching in February 2014, the online-only bank has attracted more than 25,000 customers.

Paragon Bank managing director Richard Doe says: “From a standing start last year we’ve hit a key milestone in the journey of Paragon Bank. We now have a significant presence in the savings market, being the savings provider of choice for more than 25,000 savers.

“Our best buy listings, survey results and a growing proportion of secondary account openings by existing customers, make us incredibly proud that we’re delivering to expectations.  We look forward to continuing our straightforward approach and consistently competitive rates throughout 2016.”


John Heron

Paragon reports surge in buy-to-let lending

Paragon Group, the parent company of of Paragon Mortgages, has reported a 9.3 per cent rise in pre-tax profits as buy-to-let lending doubled in the year to 30 September. The group’s annual results, published this morning, reveal buy-to-let lending totalled £1.33bn during the 12-month period, a 102 per cent increase on the £657m figure recorded […]


Paragon completes £117m deal for SME lender

Paragon Bank has completed the acquisition of small-business lender Five Arrows Leasing Group for £117m. The acquisition is part of Paragon Bank’s strategy to enter into the UK SME asset finance market. Five Arrows specialises in providing asset finance products through its subsidiary brands to UK SMEs, including equipment, vehicle and construction equipment finance, and […]

John Heron

Paragon agrees deal to buy SME lender

Paragon Bank has agreed plans to buy the small-business lender Five Arrows Leasing Group. Paragon Bank PLC, part of Paragon Mortgages’ parent company Paragon Group, made the announcement on the London Stock Exchange this morning. The acquisition is part of Paragon Bank’s strategy to enter into the UK SME asset finance market. Paragon will purchase […]


High profile accountant convicted of £6m tax evasion

An accountant has been convicted for evading more than £6m in tax with clients having to pay a further £20m in tax and interest. The Financial Times reports Sussex-based accountancy firm Christopher Lunn & Co had more than 7,000 clients, including many from the media and entertainment sectors. Dennis Christopher Carter Lunn, known as Christopher, […]

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Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


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