Paragon, the FTSE-250 buy-to-let mortgage specialist, has acquired further unsecured consumer loans through its Idem Capital Securities subsidiary from the Royal Bank of Scotland under the terms of a forward flow agreement.
Paragon is financing the purchase from its existing cash reserves and which represents the value at which the acquired loans will be taken on to its balances sheet, namely £25,000.
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
The firm previous acquired a portflio of loans from RBS for £43.2m, along with other smaller purchases. The group said further loans may be taken on.
Paragon's share price fell 0.33% to 214.20p by 14:06.
NR
-
Jeremy Hunt: Tech and defence will make Britain great again - investors should stay or risk missing outFor investors shifting away from the UK, tech and defence may well be opportunities worth staying for, the former chancellor Jeremy Hunt says.
-
Can the House of Lords change the government’s mind on controversial inheritance tax reforms?The House of Lords has launched an inquiry into inheritance tax changes on pensions and agricultural property relief - can the government’s plans be stopped?
