![Paragon in talks to takeover rival lender](https://www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fs3-eu-west-1.amazonaws.com%2Ffta-ez-prod%2Fez%2Fimages%2F4%2F0%2F1%2F6%2F1266104-5-eng-GB%2Fcalculator_2.jpg%3Fv1?width=700&source=ftadviser)
Paragon has confirmed it is in the early stages of considering a possible takeover of Titlestone.
A statement released this morning (8 May) by the banking group said no agreement has been reached yet but a further update will be published in due course.
Titlestone is a residential development finance lender and the acquisition is in relation to the purchase of loan books and bolt-on businesses.
This represents a core part of Paragon's growth and diversification strategy.
The statement read: "Paragon Banking Group notes the press speculation in relation to a possible acquisition of Titlestone, the residential development finance lender.
"The purchase of loan books and bolt-on businesses represents a core part of Paragon's growth and diversification strategy.
"Paragon confirms that it is in the early stages of considering a possible acquisition of Titlestone. There is no certainty of an agreement being reached nor as to the terms of such agreement. A further update will be provided as appropriate."
aamina.zafar@ft.com