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Paragon launches equity release mortgages

Paragon Mortgages announces it will begin offering equity release mortgages, which allow elderly home owners to raise cash without selling their homes.


The specialist lender has decided to enter the market because of the gap left when Barclays and the Bank of Scotland withdrew from it.


Paragon chief executive Nigel Terrington says he believes his company can overcome the funding problem which led to the two large banks pulling out of the sector.

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