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Paragon increases lending 80%

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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.”

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