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Paragon Bank supports Leicestershire developer Horsnall Holdings with £8m development finance funding for Loughborough housing

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.

The funding from Paragon’s Development Finance division has enabled the second phase of development of The Gate, which comprises 64 one and two-bedroom apartments in Loughborough. Paragon also previously funded phase one of the development, The Mill. This is the sixth development that the bank has supported Horsnall Holdings with.

Mark Horsnall, Director at Horsnall Holdings, said: “The support from Paragon has enabled more much-needed housing to be developed in the Loughborough area. The Gate offers high-quality housing in a convenient location, in the heart of Loughborough’s desirable Waterside Village.

“We have worked closely with Paragon for a number of years now on projects of varying sizes. The whole team has a great understanding of the industry and has always been keen to assist us with funding. Paragon’s continued support has helped us to grow our business significantly over the last few years. Monthly valuations and draw down are simple, hassle free and always paid within a few days of submission.”

Simon Dekker, Relationship Director at Paragon, said: “It is great to be able to continue our relationship with Horsnall and support the business with yet another scheme.

“Over the past few months, it has been our priority to support both new-to-bank and existing clients, so we are pleased that we are able to continue our relationship with the business through assisting with this development and those prior.”

For further information contact:

Amy Lange
Media Relations Manager
Paragon Bank
Tel: 0121 712 2526

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551