Tuesday, March 18, 2008

BTL fundamentals still as sound as ever?

Market squeezes Paragon into streamlining

"These changes are being made to ensure we can adjust our business to the current environment and to position ourselves to take advantage of improved conditions in the future." The last paragraph says it all, who's normal are we talking about here?

Posted by crash bandicoot @ 01:06 PM (697 views)
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5 thoughts on “BTL fundamentals still as sound as ever?

  • IMO – Paragon to be GONE by april

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  • Letthemfall says:

    Normal means conditions under which parasitic companies like Paragon would struggle to exist. Imagine working for such an outfit – polyester suits, polyester thinking, and proclamations about confidence in fundamentals, sounding more unreal by the day.

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  • Interesting when this artice was published – “Published Wednesday , March 19, 2008”

    Any comment by Paragon lacks any credibility and I’m really surprised they lasted in business beyond end of February

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  • crash bandicoot says:

    jack c, yeah I noticed the date too. This is basically a re-hash of last weeks news, but I thought that the line about the last five years normal or the last twenty years normal was good. It still amazes me that people are in denial about what is actually happening. Did you see the article on equity release that I posted last night?

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  • Crash B – spot on – it is last weeks news – basically a re-hash of something that was in either mortgagestrategy or mortgage solutions – I didnt post it up because Paragon’s spoutings are now widely and rightly derided on this site. Some people will never get out of the denial stage – they’ll go bust before they hit the anger stage (LOL)

    Read your post on equity release – unbelievable proposals at this stage of the game. In any event the FSA takes the view that equity release must effectively be the last option after all alternative solutions have been considered eg clients should consider downsizing/selling their home first etc… and this must be clearly documented. I can just imagine the sales pitch “now Mrs 72 year old widow your house is worth £250K and that means you can relaese X amount of equity – better sign up fast though just incase the rumours on house prices falling turn out to be true”

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