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
-
HMRC confirms crypto ETN ISA rulesWith crypto ETNs now technically available for UK retail investors, HMRC has confirmed they can be held in an ISA – but there’s a complication
-
Pensioners targeted in fine wine scams – the tactics to watch forWine has emerged as the latest lure in investment fraud, with pensioners being specifically targeted by scammers
