Paragon Banking Group has reported £1.90 billion of new lending across all business lines in the nine months to 30 June 2019.
This represents a 20% increase on the previous year.
Within this total, Paragon’s mortgage lending grew from £1.13 billion to £1.19 billion.
89% of completions came from complex landlords, compared to 76% in 2018.
Paragon’s buy-to-let new business pipeline totalled £733 million, up from £711 million in the previous quarter. Annualised buy-to-let redemptions were 8.6%, down 2.1 percentage points from the previous year.
Paragon’s retail savings deposits rose to £6.1 billion at the quarter end.
Meanwhile, asset finance and other specialist lending grew by 58% to £0.71 billion, compared to the same quarter last year.
John Heron (pictured), managing director of mortgages at Paragon, said: “Paragon is performing well. We have delivered strong new lending across all our business lines and the buy-to-let pipeline has grown despite the uncertain economic backdrop. We’re confident of meeting our objectives for the year as we continue to focus on the needs of larger, more complex and specialist landlords.”
