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Paragon increases lending 80%


Buy-to-let lender Paragon Mortgages lent £400.9m in the first quarter – an 80 per cent increase on the same period in 2015.

Group profits reached £33.9bn in Q1, up 12.3 per cent on the £30.2m reported a year earlier.

Director of mortgages John Heron says: “Our buy-to-let business has continued to grow and perform exceptionally well. Whilst over time recent policy developments may cause some softening in the rate of growth of buy-to-let at a market level, demand for private rented housing continues to remain strong and all indications suggest this is only likely to increase in the coming years.”


Paradigm increases mortgage business by 29%

Paradigm Mortgage Services facilitates £3.45bn of mortgage lending in 2015. Last year’s figure was a 29.2 per cent increase on the £2.67bn written in 2014. The mortgage club said a third of its business was buy-to-let and that new-build accounted for 11 per cent. It is targeting £1.6bn of buy-to-let business in 2016, up from […]


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 […]

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 […]

'Feeling the Squeeze'

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]


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