British buy-to-let mortgage specialist Paragon
posted a surge in full-year profits on Monday and said it remained on the look-out for acquisition opportunities, having bought a portfolio off Royal Bank of Scotland last month.

Paragon's pre-tax profits for the year ending September rose 12.5 percent from a year ago to 80.8 million pounds, helped by acquisitions and growth in lending.

According to Thomson Reuters I/B/E/S, the mean pre-tax profit forecast for Paragon stood at 78.5 million pounds.

We have successfully re-established our buy-to-let new lending business and completed a securitisation of buy-to-let assets originated during the year, our first since 2007. This augurs well for a strong start to 2012, Chief Executive Nigel Terrington said in a statement.

On Monday, Prime Minister David Cameron announced plans to boost the country's housing market.

The measures involved support for new mortgages for up to 100,000 people otherwise unable to buy homes, by indemnifying banks which approve mortgages worth 95 percent of a property's value. There would also be a 400 million pound investment fund to support small and medium-sized home builders.

(Reporting by Sudip Kar-Gupta; Editing by Myles Neligan)