Paragon Group buys more RBS loans

The Paragon Group of Companies has acquired further unsecured consumer loans, through its Idem Capital Securities subsidiary, from The Royal Bank of Scotland PLC under the terms of a forward flow agreement.

The consideration, which is being financed from Paragon’s cash reserves is £56,000.

The acquisition follows the announcement, on 27 October 2011, of the acquisition of a portfolio of loans from RBS for consideration of £43.2 million and subsequent small loan purchases.