Wednesday, September 10, 2008

Para-going, Para-going, Para-gone

Paragon seeks new cashflows

Paragon has insisted it is not looking for a buyer but it is continuing to seek new funding avenues. John Heron, managing director of the buy-to-let specialist lender, said Paragon had entered into discussions previously with parties interested in buying the firm but it was not actively seeking out a buyer. He said Paragon was "absolutely" intending to return to the market - "It is very important to us to get back into the market in due course. What we require is a return in confidence to the market in the UK. We absolutely believe the competitive market will return." Mr Heron said while he expected the number of buy-to-let loans to fall further in the third quarter of 2008 he believed the market would begin to stab

Posted by jack c @ 10:56 AM (561 views)
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3 thoughts on “Para-going, Para-going, Para-gone

  • Methinks the lender doth protest too much

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  • “The lender has also recently launched a pilot programme for landlords to perform credit assessments on potential tenants.”

    Actually, one of the biggest issues currently is the exact opposite – too few estate agents and letting agents do credit checks on landlords. If the property is reposessed, the tenant will be thrown out, the landlord sued for their (and their firstborn’s) shirt and the letting agent may also be liable.

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  • So Tenants should do credit checks on Landlords – Great Idea.

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