Monday, March 31, 2008

Buy-to-let lending halved, says Paragon

Buy-to-let lending halved, says Paragon

Mortgage bank Paragon warned today that its lending to buy-to-let customers has halved because of funding problems resulting from the global credit crunch. There has been speculation that Paragon could be taken over but Keen thought an approach was unlikely during the current financial crisis. Finance director Nicholas Keen said he expects lending to fall even further in coming months. "If you look at the credit markets at the moment they don't look like they're getting any better," he said. "If anything they look like they're getting a bit worse so it could be a long wait until the capital and bank markets are back to a normal level of functional operation."

Posted by dam1an @ 11:54 AM (98 views)
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2 thoughts on “Buy-to-let lending halved, says Paragon

  • Recently the mortgage market is similar to the 1980’s. Firstly my sites http://www.mortgagebestrate.co.uk/ and http://www.mortgagehome.co.uk/ which has good ranking has now no inquiries, secondly there are now much fewer mortgage products and thirdly lenders do not want to lend.

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  • You’re in the mortgage business? Well why didn’t you say so! Just sit back, sell off your shares, fill your boots and wait for us to buy your business in a few months.

    Lots of love,

    Gordon Brown and Alistair Darling

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