You are here: Home - News -

Paragon in Titlestone takeover talks

  • 09/05/2018
  • 0
Paragon in Titlestone takeover talks
Paragon Banking Group has confirmed it is considering buying specialist lender Titlestone.


In an announcement to its shareholders, Paragon acknowledged press speculation about a possible purchase of the development finance lender, and highlighted that “the purchase of loan books and bolt-on businesses represents a core part of Paragon’s growth and diversification strategy”.

However, Paragon emphasised that there was a long way to go before any deal was done, stating that it was in the “early stages of considering a possible acquisition” of Titlestone.

Its statement concludes: “There is no certainty of an agreement being reached nor as to the terms of such agreement. A further update will be provided as appropriate.”


Acquisition activity

Paragon purchased specialist broker Iceberg back in December, for an initial £5.2m, with a further £13m to be paid over the next five years if certain conditions are met.

Paragon is due to announce its half year results on 24 May. In its first quarter results, the firm revealed buy-to-let lending was up by 65% year-on-year to £469.8m.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

  • RT @htbplc: 📢 | We're at the @mortgagesols Specialist Lending Event next month in Esher, Solihull, York and Liverpool. Interested in atten…
  • RT @ShawbrookBroker: Join us at the @mortgagesols Specialist Lending Event 2019 throughout Feb! Don't miss industry experts addressing the…
  • RT @OTJournalist: Eastgate to join Shawbrook as MD of commercial mortgages operation. He's spent more than six years at OSB.…

Read previous post:
Consumers will not engage with protection until brokers do – Shaun Church

If the last 10 years have taught us anything, it’s that in financial services things can and do go wrong.