Loans Warehouse’s latest Secured Loan Index revealed that gross lending shot up by 13% in September, but Tristram saw Paragon’s return as the most significant event the sector has seen this month.
He said: “Despite the record breaking lending volumes seen in September, there is only one story dominating the secured loan industry this month and that is the launch of the new secured loan range from Paragon Personal Finance.
“This isn't just a new lender; this is a significant addition to the secured loan sector.
Tristram added: “It's been five long years since we last paid out business with PPF and the industry is celebrating the return, albeit as part of Paragon Bank now.
“This will inevitably mean that their rates will be competitive, as they utilise investors money.
“This combined with the fact that they have retained their core staff from 2009, along with their knowledge of the market should mean that Paragon will start where they left off, with headline rates and great service.”
