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12 July 2020

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05/11/2007 - Paragon/Advantage Withdraws

Paragon has written to brokers to remind them that the joint venture with Morgan Stanley-owned brand Advantage is suspended from today.

In a statement to brokers, Melissa Kenny of Paragon Group, said the decision was due to the continuing difficulties in the financial markets.

She added: We have decided to temporarily suspend the Advantage second-charge product range.

Kenny said the lender intends to reintroduce the full range of products as soon as circumstances allow although no timescale has been given for this.