The funding was structured across three sites (125 units) to allow the investor more time to sell his property to attract full market value, rather than retaining the development finance.

Shawbrook was supported by its broker partner Alburys Property Finance.

The structure of this case allowed for a large capital raise of around £8m, which was supported due to a blended LTV across the three sites with full personal guarantees included and a solid track record on the part of the investor.

These factors gave the Shawbrook underwriting team a great deal of confidence and the case was completed in less than three weeks from the formal offer, well within the investor’s desired timeframe.

•   Shawbrook names latest strategic broker partner
•   First Asset Finance secures £10m Shawbrook funding line
•   Shawbrook completes £22m portfolio refinance loan

The investor was a previous customer of Shawbrook and as such was automatically entitled to the ‘existing customer discount’, which allows for 0.25% off the rate or the arrangement fee.

In this case, the discount was applied to the rate margin.

Steve Matthews, regional development manager at Shawbrook, said: “This was a very exciting case to work on with Andrew [Stanbury, broker] and the team at Alburys.

“Having met earlier in the year and explained the benefits of our STL1 product – colloquially dubbed a ‘marketing loan’ – Andrew was able to look at different ways to use the product when speaking to his clients.

“The client is a prolific developer and was already known to Shawbrook, which always underpins our confidence.

“Having three sites which were either complete or close to completion and with new projects on the horizon, this presented the perfect opportunity for Shawbrook to assist with repaying the development finance and deliver a large capital raise to use on new projects.”