Tag Archives: Paragon

Buy to Let Lenders Boast Booming Borrowing Figures Commercial Finance, Latest Articles, Mortgage News, Property Market News

Buy to let lender Paragon Mortgages profits rose 12% to almost £81 million thanks to landlords building on their portfolios.

Paragon returned to lending in September 2010, and the pre-tax profit represents the first full year’s trading as a lender since the onset of the credit crunch. Continue reading Buy to Let Lenders Boast Booming Borrowing Figures


Pointless Buy to Let Survey Offers Nothing Buy to Let News, Latest Articles

The latest pointless buy to let survey has hit the news feeds with the headline finding that broker buy to let mortgage applications are up 3.1% during the three months ending September 30.

The problem is the figure is meaningless as the Paragon Mortgages survey gives no idea of the number of brokers taking part in the survey or any hard numbers about buy to let mortgage applications.

This survey is a typical example of a meaningless sentiment survey that is only aimed at garnering column inches to publicise the research sponsor. Continue reading Pointless Buy to Let Survey Offers Nothing


Paragon lends £65.7 million to buy to let investors Buy to Let News, Latest Articles

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"Paragon announces latest figures"

Buy to let mortgage specialist Paragon has announced completing new lending of £65.7 million for the second quarter of 2011.

The firm disclosed this is around two-thirds of buy to let completions by Paragon Mortgages since the firm reopened lending books on October 1st last year, after a lengthy absence from the market due to the credit crisis.

Some simple arithmetic to analyse the figures reveals how Paragon stands in the market as one of the most publicly vocal firms speaking out against the proposed European Union mortgage directive that could regulate buy to let lending in the UK.

The last whole-of-the-market buy to let lending figures are for the quarter ending March 31 this year from the Council of Mortgage Lenders (CML).

The CML collates lending figures from all the UK’s biggest bank and building society mortgage lenders – including Paragon.

The figures show that for the first quarter, CML buy to let lenders completed £2.9 billion of mortgages across 27,600 loans – at an average loan value of £105,000.

Taking the Paragon lending of £65.7 million and dividing by the CML average loan amount, the rough indication is Paragon advanced funds on around 638 properties in the second quarter.

If this is around two thirds of their completions, the firm has advanced loans on around 950 properties since October 2010.

John Heron, director of mortgages at the Paragon Group, said: “We had a strong focus on rebuilding our distribution network and brand awareness following our return to the market and it’s pleasing to see that approach start to deliver.

“The fact that two-thirds of completions came in the third quarter of our financial year alone shows our new lending is building strong momentum.”

The lender also confirmed negotiations are underway to release more funds for further lending.


Buy to let mortgage market is stuck in a rut Buy to Let News, Latest Articles, Mortgage News

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Buy to let market stuck in rut?

Buy to let mortgage availability is seemingly not improving despite the best efforts of property professionals to talk up the market.

The latest insight comes from mortgage brokers – with half reporting no change in business with landlords during the three months ending May 31, while the other half said business was up. Continue reading Buy to let mortgage market is stuck in a rut


Students are the most profitable tenants HMO's & Student Lets, Latest Articles

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Students are most profitable tenants for landlords

Landlords seeking high yields need to focus their property businesses on students and young professionals.

Students are clear leaders in the yield table – generating 6.45% a year – with young professionals following close behind at 6.22%, according to Paragon Mortgages research. Continue reading Students are the most profitable tenants


Lenders Turn Up Buy to Let Heat on the EU Buy to Let News, Latest Articles

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Paragon are lobbying the EU

One of Britain’s largest landlord mortgage lenders has stepped up the pressure on Brussels not to regulate buy to let.

Paragon Group director John Heron has just returned from a trip to the European Union headquarters to lobby for buy to let to stay outside of the proposed mortgage credit directive. Continue reading Lenders Turn Up Buy to Let Heat on the EU


Give buy to let more tax breaks, urges Paragon MD Latest Articles, Property Investment News, Tax News

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Buy to let landlord should get tax breaks say Paragon

Buy to let movers and shakers have urged the government to consider the private residential landlords as businesses to promote more investment in housing.

Landlord mortgage specialist John Heron, managing director of Paragon Mortgages berated the government for failing to motivate property investors with tax breaks.

Heron made his remarks while raising the curtain on the Council of Mortgage Lenders buy to let conference at London’s Earls Court Conference Centre. Continue reading Give buy to let more tax breaks, urges Paragon MD


Landlords could do more to save money on taxes say Paragon Latest Articles, Tax News

paragon logoMany landlords surveyed by Paragon could save money on tax, they’ve found not all were as efficient as they could be.

Of those questioned, less than half are claiming their advertising (45%), transport costs to visit your property (49%) and on any energy efficiency improvements (41%) as tax allowances. Continue reading Landlords could do more to save money on taxes say Paragon


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