Paragon Bank’s Development Finance division reports that it lent nearly £30m to developers and housebuilders in the Yorkshire and Humber region last year.
It supported nine projects throughout the region in the year to 30 September 2024, including schemes in York, Leeds, Harrogate and Ilkley.
Amongst the schemes supported were: £5.4m for a 14-house development in Halifax; £3.3m for a 13-house development in Huby; and £2.5m funding for a new build apartment scheme in Ilkley.
Overall, Paragon Development Finance, which specialises in providing finance to SME housebuilders and property developers, recorded new lending of £511.9m across the UK during the period.
Paragon says it aims to grow its presence in the Yorkshire and Humber region. Karl Kent joined the bank last year from Shawbrook to spearhead its growth in the region.
Kent, Paragon development finance relationship director for the North, said: “We are committed to support more developers across Yorkshire and Humber and, with our highly experienced team and the backing of a strong and profitable bank, we have the capacity and appetite to do so.
“We were able to support a range of developments last year, from small high-end single digit housing schemes to large-scale projects.
“The region is attractive for many reasons and that underpins demand for housing; it offers vibrant cities and beautiful countryside and villages, offering people choice.
“We look forward to working with more developers in the region during 2025 and we are committed to becoming the development funding partner of choice.”
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