Paragon has snapped up the remaining shares in the specialist buy-to-let broker The Business Mortgage Company (TBMC).
In its Interim Management Statement, the firm confirmed it had acquired the remaining 67% of the "strategically important" mortgage broker.
In January 2007, the lender supported the purchase of TBMC by its management, providing facilities of £15.75m and receiving 33% of the equity in the business.
Having suffered during the downturn, TBMC is now likely to report a loss for the year, so Paragon has agreed to temporarily suspend interest payments on its loan in exchange for the remaining equity.Mortgage Solutions
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Alongside Barrett, Hopkins, Boston and Thorman on 17 October