Paragon Mortgages No.20 (PM20) is the 58th securitisation deal completed by the Group and its third in the last 12 months. This new securitisation will support Paragon’s on-going new lending programme.
The final terms of the securitisation are as follows:
- £319 million of Class A Notes priced at 68 basis points over three month LIBOR
- £24 million of Class B Notes priced at 100 basis points over three month LIBOR
John Heron, Managing Director of Paragon Mortgages, said:
“We are delighted to announce the completion of our latest securitisation, PM20. In May we reported a 163% increase in buy-to-let new lending for the first six months of the year and we are well-positioned for further growth in the coming months. With demand increasing for rented accommodation and buy-to-let mortgages, this improvement in the supply of well-priced funding will help us to continue to develop our product range for all types of landlords.”
