The Paragon Group of Companies has reported an increase in pre-tax profits of 12.5% to £80.8 million for the year which ended on 30 September 2011.
Over this period, Paragon Mortgages’ parent company, saw new lending be re-established and the completion of its first securitisation of buy-to-let loans since 2007.
John Heron , Paragon Mortgages’ managing director, said: “The focus for the year was very much to re-establish our distribution capability and prove our business model. Our return to the buy-to-let market was well received and we have seen both strong credit performance across our buy-to-let loan portfolio and customer retention.