Lender to probe Hampshire Trust acquisition

Lender to probe Hampshire Trust acquisition


Buy-to-let specialist

The Paragon Group

has announced that it is considering the acquisition of specialist short-term finance provider

Hampshire Trust


Paragon issued a statement this week in response to a report in the Sunday Times, in which it was said that the mortgage provider was in exclusive talks to buy Hampshire Trust from the National Counties Building Society.

The potential acquisition would enable Paragon to be granted a retail banking licence for the first time, allowing the lender to start offering savings accounts and other banking services for its customers.

The Telegraph reports that Paragon has also bought several home loan portfolios from larger lenders, using its BTL expertise to deal with assets many high street banks are not keen to hold onto.

The most recent of these loan book acquisitions was £43.2 million of debt obtained from Royal Bank of Scotland. 

A statement released by the firm concerning the acquisition of Hampshire Trust said: “The Paragon Group of Companies PLC notes the recent press speculation and confirms that it is in the early stages of considering the acquisition of Hampshire Trust plc, a wholly owned subsidiary of National Counties Building Society. 

"There is no certainty that a transaction will be concluded. Paragon will update the market when it is appropriate to do so."



Leave a comment