Paragon ups new mortgage lending by 84%

Paragon has increased new mortgage lending by 84% to £367m in the first quarter. Two thirds (66%) of the lender’s buy-to-let completions were for port

Paragon has increased new mortgage lending by 84% to £367m in the first quarter.

Two thirds (66%) of the lender’s buy-to-let completions were for portfolio landlords.

John Heron, managing director of mortgages at Paragon said: “Paragon was the first lender to offer buy-to-let mortgages over 20 years ago and has developed its specialist capability around professional landlords over many years.

SMG launches second charge API tool

“It is very well aligned with the developments we have seen in the market following changes in government policy and regulation in the sector and this has allowed Paragon to significantly increase lending to portfolio landlords with more complex requirements.

“We are continuing to focus on product and technology developments that will deliver improved products and services to our landlords and intermediaries with the roll-out of new mobile applications and document upload over Q2.”

Paragon also grew second charge and specialist lending by 74% to £24m, as well as commercial lending by 21% to £203m.

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