Tuesday, Nov 25, 2008
Not quite Para-gone (yet)
BBC: Credit crunch hits Paragon profit
UK buy-to-let mortgage lender Paragon Group has reported a 43% fall in annual pre-tax profits to £53.7m ($81m) following the credit market turmoil. Paragon slashed new lending by 75% to £1.13bn in the year to 30 September after its funding costs soared. The company, which specialises in lending to landlords, said 0.53% of its mortgage accounts were in arrears - a three-fold increase from last year.
Posted by jack c @ 10:32 AM (233 views) Add Comment
1 Comment
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1. rm96696 said...
The amazing thing is that these people are reporting a profit. Are their assets valued realistically?