Paragon Mortgages said today that weakness in the credit markets has affected its usual business financing activities, reports InTheNews.co.uk. Paragon raises funding through securitization, but as the market for deals had drastically slowed, so has the company’s ability to finance its activities. The buy-to-let lender, the third largest in the U.K., said that it expects conditions in the credit markets to improve next year and that the timing and extent of the recovery would affect its future outlook.
Paragon Funding Affected By Anemic Credit Market