The Paragon Group of Companies has reported a strong performance in its new buy to let lending. For the first six months to the end of March this year they totaled £556.2m. This comes despite a sharp drop on the £823.6m for the first six months of 2016 although this figure was heavily influenced by the increase in buy-to-let investment prior to the April 2016 stamp duty surcharge deadline.
Paragon has also announced that its buy to let lending pipeline is up 111.7% to £742.3m.
Chief Executive Nigel Terrington told investors in a statement, “I am delighted to report another strong performance for the period to March 2017, with Paragon ... With the buy to let pipeline having more than doubled this year, and all other areas of the group experiencing buoyant growth, we approach the period ahead with confidence and optimism in being able to meet our expectations”
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Source: Letting Agent Today
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