Shawbrook provides two bespoke loans for investor

The firm initially provided a heavy refurbishment product of £428,000 on 18 months, interest only at a LTV in excess of 70% to convert the unit into three separate flats and a shop in 2014.

Despite Shawbrook challenging some elements of the valuer’s report, its doubts were rectified via daily communication between the short-term lending teams and broker Simon Purdom from Commercial Financial Services.

Simon suggested splitting the commercial element into a new sister company, thus avoiding the expense of a semi-commercial term loan.

Though the initial agreement was on the basis of the semi-commercial unit being converted into an entirely residential one, the client retained the shop unit after refurbishment.

Regardless, Shawbrook provided the maximum amount of finance possible based on the client’s experience and positive track record with the firm.

This ensured that the client was able to receive the maximum amount of finance possible on two separate loan agreements.

Simon, broker at Commercial Financial Services, said: “My client has an excellent ongoing relationship with Shawbrook, partly due to the type of progressive lending philosophy which this case study illustrates.

“The lending teams, which made these deals such a success, are a credit to the bank.

“All parties were especially pleased by the imaginative term solutions when it came to refinance and Shawbrook were central to achieving a positive outcome for my client.”

Last week, Shawbrook completed a £7.5m loan in just six working days.