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

Residential projects remain under pressure

Infrastructure keeps UK construction moving through a sluggish spell Residential and non-residential projects remain under pressure, while infrastructure and utilities work give the industry a much-needed lift The value of underlying work starting on-site during the latest three months declined 2% and stood 18% below last year’s levels. Residential construction starts fell 8% against the…
Read More →
Breaking News

Homebuyers hold tight ahead of Autumn Budget

but should they wait to make their move?   The latest research from Yopa has revealed that mortgage market activity has reversed in recent months, with approvals falling at an average monthly rate of 3.9% over the last four months, having previously increased by an average of 1.5% per month over the previous four months, suggesting…
Read More →
Breaking News

House price growth accelerates in Q2

The latest Property Market Index Review by London lettings and estate agent, Benham and Reeves, has revealed that the property market continued to build momentum during the second quarter of 2026, with UK house prices increasing by 1.1%, while London recorded a second consecutive quarter of positive growth.   The Benham and Reeves Market Index Review…
Read More →
Breaking News

House prices hold steady despite impact of higher interest rates

House prices were unchanged in September (0.0%), following a -0.3% fall in August The average property price is now £298,441, compared to £298,395 in August Prices were also unchanged annually (0.0%) compared with September last year Northern Ireland continues to lead UK annual growth, at +7.4% Latest first-time buyer prices reveal what a 2.5% deposit…
Read More →
Breaking News

Breaking Property News 5/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X. Architect-founded KnowYourNest brings property scores into the home search, with a free 1–10 score and full KnowYourNest reports from £9.95 By Author Andrew Stanton CEO Proptech-PR NestLink today launches free NestScore checks and KnowYourNest property intelligence reports for buyers and homeowners across England and Wales.…
Read More →
Breaking News

Gap between house prices and earnings narrows

Gap between house prices and earnings narrows – but higher borrowing costs limit affordability gains UK’s house price to income ratio falls from 7.6 to 7.3, an 11-year low, as earnings continue to outpace house price growth For first-time buyers, homes now cost less than six times earnings, falling from 6.1 to 5.9 However, monthly…
Read More →