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Paragon completes £319m securitisation
Paragon Mortgages’ parent company the Paragon Group, has completed its latest securitisation weighing in at just over £319 million.
Paragon Mortgages No.20 (PM20) is the 58th securitisation deal completed by the Group and its third in the last 12 months.
This new securitisation will support Paragon’s on-going new lending programme.
The final terms of the securitisation are as follows:
- £319 million of Class A Notes priced at 68 basis points over three month LIBOR
- £24 million of Class B Notes priced at 100 basis points over three month LIBOR
John Heron, Managing Director of Paragon Mortgages, said: “We are delighted to announce the completion of our latest securitisation, PM20. In May we reported a 163 per cent increase in buy-to-let new lending for the first six months of the year and we are well-positioned for further growth in the coming months.
“With demand increasing for rented accommodation and buy-to-let mortgages, this improvement in the supply of well-priced funding will help us to continue to develop our product range for all types of landlords.”
Loan Talk reported earlier this month that Paragon Personal Finance, established provider of secured loans since 1999, launched a legal appeal against whether it should be held responsible for a broker’s alleged failures on carrying out a proper assessment for a client.
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