The lender launched its first transaction in February 1987, and in the preceeding years, assets totalling £8 billion have been securitised by Paragon in 37 public transactions. This latest securitisation has been awarded a triple-A rating.
Nigel Terrington, chief executive of Paragon, said: "The structure of this transaction, the triple-A rating given to the Class A notes, and the low level of the first loss fund, provide tangible evidence of the market’s view that buy-to-let in general, and Paragon Mortgages in particular, represent outstanding credit quality. Having been the first to tap the mortgage-backed market some 15 years ago, we are delighted to have completed our largest deal ever."
