Aspect Homes secures £5.2m Paragon Bank funding for 17-home Eastrea development

By Bridging Loan Directory 4th March 2025

Paragon Bank’s Development Finance division is pleased to announce a £5.2 million funding agreement to support Aspect Homes in the development of 17 new residential properties in the picturesque village of Eastrea, near Peterborough.

Aspect Homes, a family-run business based in Northamptonshire, has a long-standing reputation for quality home building.

Their new development in Eastrea will feature a mix of two, three and four-bedroom bungalows and houses.

The scheme has been designed to cater to a diverse range of homeowners, including first-time buyers, families and downsizers seeking homes in a tranquil and well-connected village location.

The development will contribute to the growing demand for residential properties in Cambridgeshire, offering modern, energy-efficient homes in a rural setting, with convenient transport links to Peterborough and beyond.

With work already underway, the first homes are expected to be completed in Q4 2025.

The deal was led on behalf of Paragon Bank by Relationship Director James Helmore, with support from Portfolio Manager Megan Andreou.

“We are delighted to partner with Aspect Homes again on this development in Eastrea,” said James Helmore, Paragon Development Finance Relationship Director.

“We have funded a number of Aspect Homes developments over the last 5 years, and it is always a pleasure to work with the team.

Andy Milne, Director of Aspect Homes, added:

“We are thrilled to receive Paragon’s backing for this project.

As a family business, we take great pride in every development we undertake, and the Eastrea project is no exception.

This funding will help us deliver a range of high-specification homes that we hope will enhance the local area.”