Paragon Bank’s development finance division has provided a £3.3m finance package for developer Northmead Homes, to support the construction of a 13-house development in York.
Maple Fields comprises 13 two-, three-, four- and five-bedroom homes in the village of Huby.
Over 75% of the properties on the site have been sold with just three remaining to purchase, which will be finished in Spring 2025.
This deal was led on behalf of Paragon Bank development finance by relationship director Karl Kent, with support from senior portfolio manager, Shannon Altimas.
Kent joined Paragon at the beginning of 2024 to grow its presence in Yorkshire and the Humber.
In Paragon’s last financial year, the team supported over ten developments in this region through £35m in funding.
Northmead Homes is a family-run developer based in York, owned by husband-and-wife Phil and Fiona Mead.
Kent said: “Maple Fields is a brilliant scheme that offers so much to residents, it’s been a pleasure to work with Phil and Fiona on this scheme.
“We’re finding more and more that developments in villages on the outskirts of York always prove to be sought after as it’s such a desirable place to live, so it’s no surprise that the scheme has been so popular with buyers.”
Phil Mead, managing director of Northmead Homes, added: “It’s been great to work with Karl and Paragon on Maple Fields to supply some high-quality new homes to this wonderful village.
“At Northmead Homes, we pride ourselves on building energy-efficient homes that are finished to a high standard, this coupled with the location has meant this scheme has sold particularly quickly.”
