Lodge Park Homes has secured a £6.8 million finance package from Paragon Bank’s Development Finance division to support its new build development in Blunham, Bedfordshire.

The Hill is a development of 17 two, three and four-bedroom homes in the small village eight miles east of Bedford.

This is Paragon’s fourteenth deal with the Northampton-head quartered Lodge Park Homes, which specialises in developments in the central and southern England regions. The deal was led on behalf of Paragon by Relationship Director Adrian Reeves, with support by Portfolio Manager Jess Pilkington.

James Browning, Lodge Park Technical Director, said: “Blunham is an attractive village and a great place to live, so we think this development will be popular with buyers. It’s close to Bedford, with good links into London, and is also within proximity to a good road network for those who need to commute.”

He added: “As ever, Paragon has been a supportive banking partner and we are pleased to work with Adrian and the team again on this latest development.”

Adrian Reeves, Paragon Relationship Director, said: “Lodge Park Homes knows how to successfully deliver new build schemes in this region and what is popular with buyers. Of the 14 schemes we have funded, we have been repaid on eight, and it’s a partnership that has gone from strength-to-strength.” 

For further information contact:

Michael Clarke
Head of Media Relations
Tel: 07740090746
www.paragonbank.co.uk 

Notes to editors:

Paragon provides competitive property development finance up to the value of £35 million across England and Wales.

Paragon Bank Development Finance Limited is a member of the Paragon Banking Group which is a FTSE 250 group based in Solihull in the West Midlands. Established in 1985, Paragon Banking Group has over £13 billion of loan assets under management and manages over 450,000 customer accounts.

Paragon Development Finance Limited. Registered in England number 03901943. Registered office 51 Homer Road, Solihull, West Midlands, B91 3QJ.