Paragon Group reports Buy-to-let lending reaches £1.0 billion for first nine months of the year

July 27, 2017

The Paragon Group of Companies, the parent company of Paragon Mortgages, yesterday 26th July 2017 released its Q3 trading update for the nine months to 30 June 2017.

Buy-to-let lending reaches £1.0 billion for first nine months of the year

Professional landlords and complex portfolios now 70% of mortgage applications

PRA Phase 2 changes for portfolio landlords in place ahead of regulatory deadline

Buy-to-let lending between March and June 2017 was particularly strong at £458 million, compared with £166 million in the third quarter of 2016 which followed the increase in stamp duty for buy-to-let purchases.

Nigel Terrington, Paragon’s Chief Executive said:

“I am pleased with the Group’s performance for the year to date.  Our strong capital and funding resources provide the foundations for further growth alongside returning additional sums to shareholders via the enhanced buy-back programme.  Our new business streams continue to develop well and the increasingly complex focus in buy-to-let demand is also supporting absolute growth and market share gains for Paragon.  The Group is well-placed for the next phase of PRA underwriting rule changes, which will provide Paragon with a further competitive advantage”.

John Heron, Managing Director, Paragon Mortgages, said:

“The buy-to-let market has been the subject of repeated fiscal and regulatory intervention in recent times. This is changing the nature of buy-to-let and what we are seeing emerge is a more specialist market with a marked increase in more complex, professional landlord business. This is very well aligned with Paragon’s experience and capability as underlined by today’s strong trading figures and by our early implementation of phase two of the PRA’s regulatory requirements for buy-to-let”.

Read the Paragon Group Q3 trading update in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

UK property sector gender pay gap keeps getting wider

UK property sector gender pay gap keeps getting wider and It now has the fourth largest gap across all UK industries The latest research from Yopa reveals that real estate remains one of the UK’s worst-performing industries when it comes to the gender pay gap, ranking as the fourth largest across all sectors after widening…
Read More →
Rightmove logo
Breaking News

Britain’s most expensive streets revealed

The latest edition of Rightmove’s Most Expensive Streets report reveals that Winnington Road in Barnet, London, retains its position as Great Britain’s most expensive street, with an average asking price of £12,538,095 Chester Square in Westminster is second, with an average asking price of £11,546,428 and The Bishops Avenue in Barnet is third, with a price tag of £8,930,650 East Road…
Read More →
Estate Agent Talk

Average mortgage deposit exceeds the average salary

In 62% of Britain’s housing markets, the average deposit exceeds the average salary The latest research from eXp UK reveals that in 62% of Britain’s housing markets, homebuyers must save a deposit that exceeds a full year’s earnings, underlining just how substantial the cost of homeownership has become across large parts of the country. eXp…
Read More →
Breaking News

Latest Halifax house price data shows a 1.3% increase

Here are some thoughts from the Industry   Mary-Lou Press, President of NAEA Propertymark (National Association of Estate Agents), comments: “The latest Halifax House Price Index confirms that average property values have remained above the £300,000 mark for the second consecutive month, reinforcing the resilience of the UK housing market. Sustained pricing at this level…
Read More →
Breaking News

Halifax House Price Index February 2026

House prices rose in February as market maintains early-year momentum • House prices increased by +0.3% in February, following a +0.8% rise in January • Average property price is now £301,151, edging up to another new high • Annual growth of +1.3% is strongest in four months, up from +1.1% in January • Northern Ireland…
Read More →
Breaking News

These are London’s most imbalanced housing markets

The latest research from Benham and Reeves reveals the least balanced housing markets in London where for-sale stock most heavily outweighs rental stock, thus putting renters in a difficult position when trying to find a home in the capital. Benham and Reeves has analysed current residential property listings in London* to discover which boroughs offer…
Read More →