Shawbrook funds property portfolio expansion
Shawbrook Bank

Shawbrook funds property portfolio expansion

Shawbrook Bank has completed a £2.1m loan for a landlord planning to expand their property portfolio, capital raise and refinance their properties in Grimsby.

Shawbrook’s commercial property team was able to mitigate against the risk of the portfolio by extending the term on the loan and increasing the capital repayment.

The specialist lender also used title insurance instead of a full title investigation, which allowed the client to save both time and money on the deal.

Shawbrook worked with the introducing broker and Newsource Commercial Finance.

Lee Albino, regional development manager at Shawbrook (pictured above), said: “Our pragmatic approach to lending shone through once again.

“Rather than shying away from this more challenging case, we worked closely with our strategic partner Newsource to fully understand the merits of the deal and mitigate against any risks and ensuring a good outcome for the client.

“This complex loan was a real challenge, but that’s exactly the kind of transaction Shawbrook is looking for.”

Brian Walters from Newsource Commercial Finance added: “As a longstanding strategic partner, we have developed an excellent working relationship with Shawbrook.

“This pays huge dividends when dealing with some of the more challenging cases, such as this (low unit values and significant risk concentration).

“The client opted not to be separately represented and that – together with the use of title indemnity insurance – ensured a quick completion.

“Shawbrook demonstrated both a flexible approach to its underwriting and a desire to do the deal, which was a refreshing experience for all involved.”

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