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Uk's Third-largest Btl Lender Dismisses Sipps!

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The FT today reports that the Paragon CEO, described as "absolute nonsense" the prediction that the BTL market will surge as result of new SIPPS rules.

He said "There is a lot of hype about SIPPS creating the next bubble. It's not a mass market product and the flow of business from this will be modest".

(sorry I don't have a link)

How about that? - straight from the horses mouth! :D

It probably won't stop Brainclamp banging on about it though. ;)

Interesting that the FT in their own comment, highlighted that the provision for bad debt at Paragon has risen from £11.1m to £15.9m.

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Well, they have got to say that really.

These companies are scum and 90% of stuff that is printed is put there for a reason:

With little (not enough to cover inflation) or no capital appreciation, BTL properties are basically declining in value.

Loads of BTL muppets have piled in and driven rents into the floor. So much so that, as we know, the rent often does not cover the interest on the mortgage, let alone repairs, voids, etc.

Paragon are spinning a story to try and prevent more BTL muppets from running to the exits. Some BTL people must think that SIPPS will increase rental supply and plunge rents further and it may now be a good time to sell.

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Well, they have got to say that really.

These companies are scum and 90% of stuff that is printed is put there for a reason:

Any public company attempts to carefully manage what is printed about it. Many spend huge sums on PR in the process.

It is very important for people like the Paragon CEO to manage investors expectations. i.e. if shareholders are expecting earnings upgrades as a result of SIPPS and it doesn't come, the share price will collapse and CEO could get the boot. Your man here is simply covering his ar5e.

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The FT today reports that the Paragon CEO, described as "absolute nonsense" the prediction that the BTL market will surge as result of new SIPPS rules.

He said "There is a lot of hype about SIPPS creating the next bubble. It's not a mass market product and the flow of business from this will be modest".

(sorry I don't have a link)

How about that? - straight from the horses mouth! :D

It probably won't stop Brainclamp banging on about it though. ;)

Interesting that the FT in their own comment, highlighted that the provision for bad debt at Paragon has risen from £11.1m to £15.9m.

Mighty Tharg where are you?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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