By using this website, you agree to our use of cookies to enhance your experience.


New buy-to-let lending up 102% at Paragon

Paragon Mortgages’ parent company, The Paragon Group of Companies, has released its results for the year ending 30 September 2015.
The group reported a 10.2% increase in underlying profit for the period, reaching £134.7 million (2014: £122.2 million).

During the year Paragon saw a substantial increase in activity, with buy-to-let lending totalling £1.33 billion – representing a 102% increase on last year (2014: £656.6 million).

The pipeline of new applications further demonstrated the growth in business and at 30 September stood at £713.7 million – up 72.1% compared with the same period last year (2014: £414.8 million).
John Heron, director of Mortgages, said: “Access to retail markets through Paragon Bank has provided the group with a material diversification of funding. This has helped facilitate a step change in buy-to-let lending driven by a significant broadening of our product range and a more consistently competitive position for both large-scale professional landlords and smaller-scale property investors.

“It has been a fantastic year for the group overall and with our acquisition of Five Arrows Leasing through Paragon Bank, there will be more exciting opportunities to come.”

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions.
If any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals, then the post may be deleted and the individual immediately banned from posting in future.
Please help us by reporting comments you consider to be unduly offensive so we can review and take action if necessary. Thank you.


Please login to comment

MovePal MovePal MovePal
sign up