The Paragon Group of Companies has reported new buy-to-let lending totalling £65.7 million for the three months to the end of June.
The group also said it has completed £99 million of buy-to-let business over the past nine months, which includes £3.7 million in further advances to existing customers.
Paragon’s Interim Management Statement, which covers the period from 1 April 2011 to 30 June 3011, also showed the credit performance of Paragon’s buy-to-let portfolio continued to improve. Three month plus arrears across the portfolio stood at 0.69% at the end of the period, compared to 0.75% at the end of the previous quarter.
In the statement, Paragon also said that it continued to pursue portfolio acquisition opportunities and loan administration contracts.
John Heron , Paragon Group director of mortgages, 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. We have developed our new lending proposition over the past nine months and now have a comprehensive product set
