Paragon Bank holds guidance as Q1 margin ahead of expectations

(Sharecast News) - Specialist buy-to-let mortgage lender Paragon Bank held annual guidance and said first-quarter margins had been running above expectations. Buy-to-let lending totalled £432.2m in the quarter, up from £336.3m last year, while commercial lending advances fell to £254.2m from £274.4m previously, Paragon said in a trading update covering the three months to December.

Net interest margin - the difference between savings and loan rates - was ahead of expectations, although no figure was provided.

New lending across the quarter totalled £677.4m, compared to £610.7m in the first quarter of 2024.

Paragon's buy-to-let pipeline at the end of the quarter stood at £691.9m, up almost 24% year on year.

Reporting by Frank Prenesti for Sharecast.com