Paragon eyeing up Hampshire Trust
Mortgage provider Paragon Group of Companies backed up press speculation on Monday morning by confirming that it is thinking about acquiring small private bank Hampshire Trust.
Mortgage provider Paragon Group of Companies backed up press speculation on Monday morning by confirming that it is thinking about acquiring small private bank Hampshire Trust.
The Sunday Times reported yesterday that the buy-to-let lender was in discussions with Hampshire Trust over a deal that would grant it a banking licence for the first time, allowing it to start offering savings accounts its customers.
In a statement, the company said: "The Paragon Group of Companies PLC notes the recent press speculation and confirms that it is in the early stages of considering the acquisition of Hampshire Trust Plc, a wholly owned subsidiary of National Counties Building Society.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"There is no certainty that a transaction will be concluded. Paragon will update the market when it is appropriate to do so."
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Revolut launches its first stocks and shares ISA with BlackRock and Vanguard ETFs
A year after getting its UK banking licence, Revolut is now launching its first stocks and shares ISA with a suite of exchange-traded funds (ETFs) from BlackRock and Vanguard.
-
What does Trump’s ‘Big Beautiful Bill’ mean for the US economy?
Donald Trump’s budget bill will slash taxes, but is expected to add at least $3 trillion to US national debt