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Monday, May 21, 2018

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Paragon confirms it is considering possible acquisition of Titlestone

Tom Belger | 7:30 Wednesday 9th May 2018

Paragon Banking Group PLC has confirmed that it is in the early stages of considering a possible acquisition of Titlestone.

Since its launch in 2012, development finance lender Titlestone has committed in excess of £2bn across over 300 developments.

Paragon said that the purchase of loan books and bolt-on businesses represented a core part of Paragon’s growth and diversification strategy.

The bank added: “There is no certainty of an agreement being reached nor as to the terms of such agreement.

“A further update will be provided as appropriate.”

Earlier this year, Paragon announced that its total mortgage lending had increased by 84% during the last three months of 2017, compared with the same period in 2016.

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