More RBS loans dribble through to Paragon
Resurgent buy-to-let mortgage specialist Paragon has bought another parcel of unsecured consumer loans from the Royal Bank of Scotland (RBS).
Resurgent buy-to-let mortgage specialist Paragon has bought another parcel of unsecured consumer loans from the Royal Bank of Scotland (RBS).
Before tax-payers start celebrating a cash windfall for the part-nationalised lender, The Paragon Group of Companies is paying just £32,000 for the loans under the terms of a forward flow agreement it has with RBS.
A spokeswoman for Paragon told Sharecast that the deal was a tiny one that the group is obliged to report, and follows on from the acquisition last year of a portfolio of loans from The Royal Bank of Scotland for consideration of £43.2m.
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
"Whilst the transaction value is considered by Paragon to be modest, [the Financial Services Authority's regulation] LR10.2.10 requires the aggregation of all transactions between Paragon and The Royal Bank of Scotland PLC during the past twelve months in classifying this transaction," Paragon's announcement said.
JH
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.
-
Can gold protect you against inflation?
Inflation is on the rise in the UK. Could investing in gold protect your portfolio against rising prices?
-
Fresh inheritance tax blow for business owners and farmers – could you need a new will?
Draft legislation has revealed a hoped for loophole in business and agricultural property reliefs has been closed tight