Paragon appoints Jason Wilmot from ABC to its development finance team

Paragon Bank, the specialist lender, has expanded its development finance team with the appointment of Jason Wilmot as relationship director.

Wilmot will work with clients across England and will be based at the team’s Gracechurch Street head office in London.

Previously, Wilmot worked as relationship director at Alternative Bridging Corporation. Prior to that, he worked within the Royal Bank of Scotland’s commercial real estate finance teams as senior relationship manager for 17 years.

Wilmont (pictured) said: “I am delighted to be joining Paragon’s development finance team. I am looking forward to working in such a highly regarded team and using my experience to help the business achieve its strategic growth objectives.”

Paragon Bank’s development finance division increased lending to residential housebuilders by nearly £200m during the first half of the company’s financial year, taking its net loan book to over £500m.

Robert Orr, Paragon Bank development finance managing director, added: “We are keen to grow our loan book and support current and new to bank clients and bringing somebody in with Jason’s experience and connections will help us do that.

“We had a strong first half of the financial year and that has continued into the second half, despite the challenges coronavirus presented to the sector.”

“We have remained active and, looking forward, we are confident in the prospects for the market,” he said, adding that the demand for new housing looks like it will remain strong into the future.

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The news comes after paragon facilitated property developer Antler Homes with a £3.3m funding package to fund the development of 13 new-build homes in West End, Surrey.

The funding was provided by Paragon’s development finance team, who offer development finance solutions to clients in England and Wales.

Paragon offer a range of options and can help support developers on a range of different projects, such as multi-unit residential properties, new builds, conversions or refurbishment schemes.

source https://commercial-mortgages-broker.co.uk/news/paragon-appoints-jason-wilmot-from-abc-to-its-development-finance-team/