Overview

• Pre-tax profit climbed 26.7% to £149.4m in the first half, driven by a 25.1% rise in mortgage lending to £810m after stamp duty thresholds were cut
• The bank made a £6.5m provision for its motor finance arm ahead of a Supreme Court decision on commission practices later this summer
• Operating expenses fell 0.8% to £89.3m and net interest margin held steady at 3.13%, marginally down from a year earlier
• Paragon’s loan book grew 4.9% and the firm extended its share buy-back programme to £100m for the financial year
• The UK government’s Renters’ Rights Bill is progressing through parliament and could tighten regulations on private landlords