The bank provided a £7.7m loan on its LCI1 product at a gross LTV of 63% for an experienced investor looking to refinance an Essex- and Suffolk-based portfolio, which included a large office block and a number of industrial units.

The deal was structured on a part-capital, part-repayment basis with an additional second charge to allow the bank to lend the full amount of finance needed and took two-and-a-half months – including the Christmas break – to complete, from initial enquiry through to funds being released.

Emma Cox, sales director at Shawbrook Commercial Mortgages, said: “In our six years of operating at Shawbrook Bank, this is one of the most complex and definitely one of the largest commercial property deals we have managed to complete.

“It simply would not have been possible without the combined expertise and commitment of the broker Commercial Financial Services, Pure Law and, of course, the commercial mortgages team themselves.

“This was a very large facility for a new-to-bank customer but, taking into account their strong track record in this sector, we have once again demonstrated our appetite to lend and willingness to go the extra mile when it comes to more complex cases.”

In addition to the £7.7m facility, the client required a solution that would enable him to sell a smaller unit from the portfolio following minor refurbishment works.

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As such, Shawbrook provided an additional short-term loan on a separate facility of £547,000, allowing the client to redeem without receiving an early redemption charge.

A valuer from Shawbrook’s panel manager Appraisers UK valued the commercial portfolio positively, allowing the bank’s underwriting team and group credit committee to commit to lending at full market value rather than on vacant possession.

The portfolio was well-tenanted and had grown sensibly for 10 years, having weathered the 2007/08 financial crisis with a sustainable strategy.

As a result of the client’s experience and sensible exit strategy, Shawbrook accepted a reduced personal guarantee.

Shawbrook’s in-house legal panel Pure Law engaged Birketts Solicitors – a firm local to the client – to coordinate all the necessary legal work.

The loan was submitted by Simon Purdom, principal of Commercial Financial Services.

He added: “It was clear from reviewing the debt requirements that Shawbrook was best placed, within my lending panel, to provide the most appropriate outcome for the client.

“As a strategic broker partner, I know that they benefit from an expert, open-minded team, who would relish the opportunity to provide funding for a significant commercial portfolio such as this.

“There were some very long days and many hurdles to overcome, but we got the best possible end result – a happy client with a lending outcome that is well-suited to their individual requirements.”