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

Breaking Property News 9/4/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Why Rightmove is making all the wrong moves   In a world reshaped by AI, incumbency is no longer protection. It is exposure. Thought Leadership By Andrew Stanton, CEO Proptech-PR Rightmove has long been the unassailable giant of UK property portals—a category-defining platform that, for years, operated…
Read More →
Breaking News

Six property firms expelled from redress scheme

Six property businesses have been expelled from The Property Ombudsman after failing to pay compensation awards. The expulsions followed a review by the scheme’s independent Compliance Committee, which agreed that each firm should be removed for breaching their membership obligations by not complying with Ombudsman decisions. The Property Ombudsman, which provides impartial dispute resolution for…
Read More →
Home and Living

Best garden renovations to increase property value this spring

With spring fast approaching and warmer weather finally in sight, now is the perfect time to step outside and give your garden the well-deserved TLC and refresh it needs after such a wet and dreary start to the year. Whether it’s refreshing planting beds, updating patio areas or rethinking your layout, investing time into your…
Read More →
Breaking News

Prime London property market stays firm

The latest Prime London Demand Index by London lettings and estate agent, Benham and Reeves, reveals that, despite broad economic uncertainty, buyer demand across London’s most prestigious neighbourhoods avoided a decline during the first quarter of 2026, with the likes of Chelsea, Battersea, Highgate, and Belgravia seeing quarterly demand increases of above 5%. The Prime…
Read More →
Breaking News

More first-time buyers enter the market in 2026

The latest research by Yopa has revealed that first-time buyer demand has strengthened during the first quarter of 2026, despite the supply of homes offering the benefit of a buying scheme remaining limited. Yopa analysed first-time buyer demand based on the proportion of homes listed under buying schemes* that have already sold subject to contract…
Read More →
Breaking News

Fall-throughs hit housing market for £1bn annually

The latest Fall-Through Index by the House Buyer Bureau has revealed that the number of fall-throughs in the UK fell by -25% in the final quarter of 2025, but the estimated total cost incurred still stood at £218.3m in those three months alone, pushing the total cost for the year to over £1bn. House Buyer…
Read More →