After acquiring the site in 2022, the developer needed funding to finish the build, secure a better interest rate, and allow time to sell the properties.

The scheme features six four- and five-bedroom homes.

Working alongside broker partner Propcap, Shawbrook structured a facility and despite challenges such as material and labour shortages, the deal was completed in 17 days.

Shawbrook’s team worked closely with the broker and developer, navigating last-minute delays that meant the loan had to be finalised before the final building works were complete.

Alex Mills, development finance relationship director at Shawbrook, commented: “Speed and flexibility were key here, especially with some works still outstanding.

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“Despite that, we moved fast and met the client’s deadline, completing in just over two weeks from engaging solicitors and saving them extra fees in the process.”

Nick Ellis-Calcott from brokerage Propcap said: “A long-standing relationship connected us to this developer and it quickly became clear how we could support by refinancing the project onto a development exit product.

“Shawbrook’s product ticked all the boxes in terms timescales, service and price, and it was a pleasure to work with both parties to land an outcome that met our clients’ needs and expectations.”

Developer client, Sunny Patel, also commented: “Both Propcap and Shawbrook were excellent in providing a clear and transparent service that met our financing requirements, as well as getting to understand us as a developer and the project, listening to our needs, and working with us throughout to ensure a smooth transaction to completion.”