Paragon Bank continued to grow its Development Finance Team during 2020, whilst also increasing both its lending to SME housebuilders and its net loan book.

Paragon Bank is broadening its buy-to-let larger loan offering to include Houses in Multiple Occupation (HMOs) and multi-unit blocks (MUBs).

Buy-to-let mortgage brokers will switch their attention to the remortgage of five-year deals written in 2016 after the Stamp Duty holiday ends at the end of March, Paragon Bank research has found. 

Paragon Bank has provided an £8 million funding package to Horsnall Holdings Ltd to support The Gate, a Loughborough-based housing development of 64 homes.

Paragon Bank continues to support UK SMEs during coronavirus, providing a £50,000 Bounce Back Loan (BBLS) to Leeds-based concrete supplier, Ready Mix Ltd.

Paragon Bank has announced it is adding to its buy-to-let product range by launching a new five-year fixed rate for larger loans. 

The balance of easy access accounts earning a rate of 0.1% or less has nearly tripled since January, with 56% of easy access balances now earning a low rate. 

The desire of tenants in the private rented sector to own a property falls from the age of 35, along with the propensity to save towards a deposit as tenants get older, Paragon research has found.

Paragon Bank has provided an £8.7 million funding package to Mulberry Homes (Redhill) Ltd to support a Surrey-based housing development of 57 apartments.

Paragon Bank has further bolstered its Development Finance team with the appointment of Toby Burgess as a Relationship Director.