Buy-to-let BOOM

[AtW]

Paragon Bank booms with 80pc growth in buy- to-let

Paragon Bank is cashing in on the buy-to-let boom, having nearly doubled lending to landlords in the final few months of last year.

Mortgages for rental properties hit £401m in the final three months of 2015, up 80pc on the same period a year earlier, while Paragon's pipeline of future loans was up 43pc to £595.7m.

The solid performance contributed to the wider Paragon Group making an underlying profit of £35.2m in the quarter, up 14pc on the year before.

The government is cracking down on buy-to-let lending by removing tax breaks on mortgages and increasing stamp duty on second homes, in a bid to tackle the UK's housing shortage and rein in soaring property prices.

Nigel Terrington, chief executive of Paragon, said while these changes may soften the rate of growth in the sector, demand for rental properties remained strong and would continue to grow over the long term.

Analysts expect Paragon’s buy-to-let growth to slow sharply, but don't believe the lender has taken excessive risks in its rapid expansion.

More from the source: Paragon Bank booms with 80pc growth in buy- to-let - Telegraph

And why not? Property prices only go up up up!!!

[PurpleGorilla]

Pass the bucket, so I can fill it with vomit and kick it down the road.

[DimPrawn]

Make hay whilst the sun shines. Paragon saw a good business opportunity (ZIRP + mass immigration + NIMBY's) and made a killing lending to the BTL brigade.

Note to AtW - This is called business acumen. Look it up!

[PurpleGorilla]

Make hay whilst the sun shines. Paragon saw a good business opportunity (ZIRP + mass immigration + NIMBY's) and made a killing lending to the BTL brigade.

Note to AtW - This is called business acumen. Look it up!

Some would call it greed.

[DimPrawn]

Some would call it greed.

If you could quadruple your day rate and the client would pay it, would that be greed?

[The Spartan]

If you could quadruple your day rate and the client would pay it, would that be greed?

Not at all that would be called, business sense

[PurpleGorilla]

Buy-to-let BOOM

If you could quadruple your day rate and the client would pay it, would that be greed?

Where does the money come from to do that?

Bottom line is some lose for others to gain. Capitalism has gone so foxtrot oscar that a few billionaires laud it over everyone else. If you don't fight against the inequality; who will?







In answer to to your question. I don't know. It's hard not to be seduced by a juicy carrot.

Buddha said that you can do great things with lots of wealth. So ultimately perhaps that's what counts?

[NigelJK]

You shouldn't be taken in by (deliberately) badly presented statistics.

Radio 4 more or less on those self same statistics (and more)

[AtW]

Note to AtW - This is called business acumen. Look it up!

I call it short term reckless lending.

[DimPrawn]

I call it short term reckless lending.

Don't worry, they will get a tax payer bailout when it goes tits up, so it's win-win.