In a sign of the times, mortgage provider the Paragon Group of Companies has seen its warehouse loan facility with Australian finance house Macquarie Bank renewed at a higher level.
The company, which serves the buy-to-let market in Britain, said the facility has been increased from £200m to £250m. Interest will be charged on the amount drawn at an unchanged rate of three-month London Interbank Offered Rate (LIBOR) plus 2.875 percentage points.
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