Sarah Dix

Paragon boosts development finance team and lending activity



Paragon Bank has appointed Sarah Dix as a relationship director as it increases its lending to SME housebuilders and its net loan book.

Sarah joins the lender from Metro Bank, where she spent six years working in various positions, including her most recent one as lead commercial banking director for the real estate team.

Prior to that, she worked in a number of property origination and business development roles at Barclays.

The appointment is part of Paragon Bank’s strategy to grow its development finance division.

In 2020, the lender appointed five new relationship directors, including Rebecca Murphy, Andrew Fairley, Jason WilmotToby Burgess and Dave Rowlinson.
 
Paragon has also hired four new portfolio managers, as well as added to its credit and operations function.

The bank's development finance net loan book increased by 20.2% during 2020 to £609m, despite it being a challenging year.
 
Robert Orr, managing director at Paragon Bank’s development finance division, said: “We are always looking to grow our loan book in a sensible way by supporting existing and new clients, [and] these new additions to our team over the past 12 months will help us do just that. 
 
“I’m really pleased with the calibre of the individuals who have joined our team from a wide variety of other lenders. 

“Paragon’s deserved reputation for consistency, customer service and balance sheet strength are all part of our ability to attract such quality people.”

He added that Paragon felt confident in the prospects for the market, despite the challenges 2021 would present. 

Dave Newcombe, managing director of commercial lending at Paragon Bank, commented: “Developers want to work with a bank that is consistent, financially strong, and has the experience and expertise to support their business.
 
“Our business pipeline is strong and the expansion of the team further supports our commitment to this sector.”



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