Paragon Mortgages reported a strong first quarter, with significant growth in BTL loans completed during the period of £222.1m – a 58.4% increase on the same time period last year (£140.2 million).
The business has also seen strong growth in the new business pipeline, which stood at £416.7m at 31 December 2014, which is up from £222.5m at the same time point last year.
John Heron, Managing Director of Paragon Mortgages, said: “We continue to benefit from an increase in the scale of our funding capability and, as a result of the deposit raising capability of Paragon Bank, improved diversity of funding.
This has allowed us to continue developing our buy-to-let proposition for landlords and their intermediaries and we now have our most complete and competitively priced range of buy-to-let products. The fact that the pipeline continues to grow demonstrates well that the business has a good platform in place for further development through 2015. ”
