Paragon lifted mortgage lending “marginally” to £1.1bn within the 9 months to June from a yr in the past, however lowered its guidance for the remainder of 2025.
The landlord lender stated that earlier 2025 completions “mirrored the stamp obligation disruption on the opening pipeline”.
The landlord lender stated {that a} stronger buy-to-let pipeline “constructed throughout the interval” ended 27.6% greater its March 2025 degree at £0.8bn.
The finish of March additionally noticed stamp obligation thresholds rise again to pre-September 2022 ranges, previous to the Liz Truss Budget.
But the enterprise added that “development within the pipeline primarily occurred in the direction of the top of the interval and consequently our full yr volumes are anticipated to be across the decrease finish of authentic guidance however ought to assist a extra beneficial begin to the brand new monetary yr”.
The financial institution now forecasts new mortgage lending will are available at round £1.6bn this yr. Previously, it had given a spread of between £1.6bn and £1.8bn.
The agency’s mortgage guide — which additionally consists of different kinds of business lending for automobiles, asset finance and growth finance – got here in at £16.2bn, up 1.1% through the quarter and 4.8% greater from a yr in the past.
Paragon chief government Nigel Terrington stated: “The momentum in our enterprise and the resilience of our enterprise mannequin means we’re well-positioned to proceed supporting our clients and delivering robust returns for our shareholders.”
Shares fell 9.2% to 864.5p in mid-afternoon buying and selling.
