The firm’s commercial mortgages division completed a £2.9m loan on its RB1 product for 12 months interest-only in order to save a client from a potential chain break.

The borrower was introduced to Shawbrook via the bank’s broker partner The Aftersales Network Ltd.

“My client is exceptionally pleased with the level of service they received on this loan, ending in a positive outcome,” explained Curtis Goring, managing director of The Aftersales Network Ltd.

“Shawbrook keeps it straightforward with just two regulated bridging products that have transparent criteria requirements.”

The deal represents Shawbrook’s largest such loan since the launch of its regulated bridging range in October 2015.

Despite the borrower being abroad, a signed occupier waiver was provided quickly prior to the formal offer and all necessary documentation was collected without any major difficulties.

However, there were some concerns around planning arrangements for the borrower’s current address as the correct permissions had not been ascertained for a previous garage extension.

As a result, Shawbrook’s lending manager consulted directly with the valuer and agreed only a marginal drop of £50,000.

Communication between the lending team, broker and solicitors remained positive throughout the deal.

Curtis added: “My clients appreciate this directness, as do I, and I look forward to completing on many more regulated bridging mortgages with Shawbrook in the future.”

Last month, Shawbrook provided loans with a gross value of £836,000 to an expatriate investor, despite usually only offering up to £750,000 on that particular product.