Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Mortgages and personal loans provider Paragon Banking reported a'strong' start to the year as lending increased by a third, led by jump in buy-to-let mortgages and commercial lending volumes in the first quarter.
Total new lending for the quarter to 31 December 2021 increased by 35.7% to £708.0 million from £521.8 million in Q1 2020/21.
The CET1 and total capital ratios remained strong at 15.6% and 17.7% respectively at 31 December 2021.
The volume of new buy-to-let mortgage advances increased by 36.8% to £408.5 million when compared to the £298.7 million reported for Q1 2020/21.
Commercial lending volumes also increased significantly, rising 37.3% to £298.8 million year-on-year.
'The group's operational and financial performance during the first quarter has been strong and the Board's FY22 guidance remains unchanged,' the company said.