Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Paragon Development Finance Reaches £4bn Lending Milestone

Paragon Development Finance has surpassed £4bn in lending, funding more than 900 development projects and over 16,000 new homes across the UK. The milestone follows Paragon’s acquisition of Titlestone Property Finance in 2018 and reflects the division’s expansion in both scale and geographic reach.

According to the report, most of the projects financed by Paragon Development Finance have involved SME housebuilders and specialist developers. The company noted a significant increase in its activity in the North of England, with the proportion of schemes financed in the North West, North East, and Yorkshire and Humber rising by more than 50% year-on-year in the last financial year.

Paragon Development Finance highlighted that more than half of its new deals come from repeat customers. The division has broadened its proposition to support a wider range of development schemes, maintaining a focus on long-term partnerships with experienced SME developers.

Since joining Paragon Banking Group in 2018, the development finance division has expanded its presence in residential development finance and specialist sectors. The group credits its growth to the team’s sector expertise and ability to support customers through changing market conditions.

For UK letting agents and inventory clerks, Paragon’s continued support for SME housebuilders and the delivery of new homes may signal ongoing opportunities in property management and lettings, particularly in regions experiencing increased development activity.