Paragon Mortgages has announced its figures for the final quarter of 2014, with a 58.4% increase in buy-to-let (BTL) lending compared to the same period last year the headline figure.
Paragon Mortgages’ parent company, the Paragon Group of Companies, also announced financial results for the quarter to 31 December 2014.
The Group reported operating profits of £30.9 million, a 14.9% increase on the first quarter last year (£26.9 million).
John Heron, Managing Director of Paragon Mortgages, commented: “We continue to benefit from an increase in the scale of our funding capability and, as a result of the deposit raising capability of Paragon Bank, improved diversity of funding.”
He added that Paragon will continue developing its buy-to-let propositions for landlords throughout 2015.
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