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Paragon reports 95% increase in buy-to-let lending

Samantha Partington
Written By:
Samantha Partington
Posted:
Updated:
25/02/2015

Paragon Mortgages has reported a 95% year-on-year increase in buy-to-let advances from the period between October 2013 and June this year.

In its interim management statement Paragon announced advances of £456.3m for the financial year-to-date compared to £234.9m for the same period the previous year.

In Q3, from April to June this year, the buy-to-let specialist reported completions of £187m.

John Heron, managing director of Paragon Mortgages, said: “The last quarter was very successful for the mortgage business and the wider group. The buy-to-let business continues to grow and the credit quality remains outstanding.”

The Council of Mortgage Lenders’ gross lending figures revealed that UK buy-to-let lending in May totalled £2.2bn, representing 16,000 loans.

This was up 4% in the number of loans compared to April and up 5% in value. Compared to May 2013, this was a 14% increase by volume and 22% by value.

 

 

 

 


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