Paragon Bank has further bolstered its Development Finance team with the appointment of Toby Burgess as a Relationship Director.
Toby will be based in the Development Finance team’s London office and will work with SME developers across England and Wales, focussing on originating high quality loans secured on residential development projects.
He has a financial services and property finance background and joins Paragon from Wellesley Finance. Prior to that, he was with GFI Group, structuring debit and equity into development deals.
Toby said: “I am delighted to be joining Paragon’s Development Finance team. I am looking forward to helping Paragon to continue to grow its development finance business as well as working with a variety of creative and hard-working developers and housebuilders.”
Paragon Bank’s Development Finance division increased lending to residential housebuilders by nearly £200 million during the first half of the company’s financial year, taking its net loan book to over £500 million.
Robert Orr, Paragon Bank Development Finance Managing Director, said: “Bringing somebody in with Toby’s expertise and experience will help us to continue supporting our current and new to bank clients, whilst growing our loan book.
“We have remained active throughout this challenging period when other lenders have retrenched and, looking forward, we are confident in the prospects for the market. The demand for new housing looks like it will remain strong into the future and smaller developers want to work with a bank that is consistent, is financially strong and has the experience and expertise to support their business.”
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