In its interim management statement Paragon announced advances of £456.3m for the financial year-to-date compared to £234.9m for the same period the previous year.
In Q3, from April to June this year, the buy-to-let specialist reported completions of £187m.
John Heron (pictured), managing director of Paragon Mortgages, said: “The last quarter was very successful for the mortgage business and the wider group. The buy-to-let business continues to grow and the credit quality remains outstanding.”
Paragon’s pipeline at the end of the nine month period totalled £349.8m, which it said indicated ‘strong new business flows’.
Earlier this month Paragon also completed its 58th securitisation transaction, Paragon Mortgages No.20, which took the total group issuance to £953m over the past 12 months.
The group’s interim management statement for the third quarter reported strong operating profits for the nine months to 30 June 2014 of £88.3m.
This compared to £75.7m for the same period in the previous financial year – a 16.6% increase.
The Council of Mortgage Lenders’ gross lending figures revealed that UK buy-to-let lending in May totalled £2.2bn, representing 16,000 loans.
This was up 4% in the number of loans compared to April and up 5% in value. Compared to May 2013, this was a 14% increase by volume and 22% by value.
