Paragon Banking sees FY interest margin above 2.24%
Buy-to-let mortgage specialist Paragon Banking on Tuesday maintained full year lending guidance, adding that it expected its net interest margin for 2019 to be above the 2.24% reported at the half-year results. Paragon reported a net interest margin of 2.19% in 2018.
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New lending in the nine months to June 30 was £1.9bn, up from £1.58bn a year ago. Full year volumes in the mortgages division were still anticipated to be around £1.6bn and commercial lending volumes expected to exceed £0.9bn.
Mortgages were £1.19bn compared with £1.13bn a year earlier.