Paragon aiming to offer more buy to let mortgages
www.moneynews.co.uk > Mortgages > Paragon aiming to offer more buy to let mortgages
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Money News |
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Paragon aiming to offer more buy to let mortgages
Wed 29th Sep 2010
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Chief executive of the Paragon Group Nigel Terrington claimed the company wants to help professional letters to stimulate the private rental market by providing new propositions.
In his view, competition has been "sorely lacking" in the buy to let mortgage industry and that is not conducive to a "healthy and vibrant" sector.
Mr Terrington said: "Despite the difficult environment over the past three years, Paragon has remained steadfast in its commitment to return the business to new lending."
In particular, he suggested the firm will concentrate on specialised deals for landlords with more complex circumstances, such as those who are handling multi-unit blocks.
Last month, a representative from Paragon responded to figures from the Royal Institution of Chartered Surveyors by agreeing that the private rental sector must expand to meet demand.
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