Posts with tag: property completions

Paragon report high profit increase

Published On: July 31, 2015 at 10:47 am


Categories: Finance News

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The Paragon Group of Companies, parent firm to Paragon Mortgages, has today announced its financial results for the second quarter of 2015.


Encouragingly, the groups total operating profits amounted to £98m in the nine months to 30th June 2015, an 11% increase on the same period last year. In addition, Paragon Mortgages record completions totalling £370.3m in the quarter, representing a 98% increase on the same quarter last year. In the year as a whole, buy-to-let finishes totalled 816.5m.[1]

New business secured stood at a cumulative total of £864.9m at the end of the quarter, in comparison to £352.7m at the same time in 2014.

Paying dividends

Managing director of Paragon Mortgages, John Heron, commented, ‘we have seen a substantial increase in market share over the last year as our strategy to diversify funding has started to pay dividends.’ Heron said this was the case,’ against a background of strong and sustained tenant demand in a private rented sector that has doubled in scale in the last ten years and now accounts for 4.9m homes.’[1]

Paragon report high profit increase

Paragon report high profit increase

‘Buy-to-let plays an important role in supporting the sector and making sure the market can respond to this continued increase in demand for rented homes, ‘Heron added.[1]