Landlords

BTL lending up 80% according to Paragon

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28th January 2016
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Paragon Mortgages has reported an 80.6% increase in new buy-to-let lending, totalling £400.9 million in Q4.

The pipeline of applications as of the 31 December 2015 stood at £595.7 million, 43% higher than at the same point in 2014.
 
The Paragon Group of Companies reported pre-tax profits of £33.9 million, a 12.3% increase on the same time period last year.

During the period the Group also completed its acquisition of Five Arrows Leasing and has now re-branded the business to Paragon Bank Asset Finance.

John Heron, Director of Mortgages, said: “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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