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Shawbrook hits £2bn development loan milestone; Tab enters Scotland market – round-up

  • 20/02/2024
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Shawbrook hits £2bn development loan milestone; Tab enters Scotland market – round-up
Shawbrook’s development finance division has issued more than £2bn in loans for property developers across the UK.

This funding from Shawbrook has supported 500 development projects, more than 7,800 new homes and over 1,200 student units. 

This includes a five-year loan to develop a 66-bed care home, and a flexible funding arrangement issued in £3m tranches for the construction of a 46-unit housing scheme. 

Shawbrook offers core products alongside options to suit developer’s complex needs and is preparing to launch a planning assistance loan, which is a short-term product to help developers improve the planning they already have in place for a site. They can then switch to a tailored development finance deal for construction. 

Terry Woodley, managing director for development finance at Shawbrook, said: “We’ve reached a significant milestone that demonstrates we are a trusted and reliable funder for experienced developers requiring tailored and flexible finance solutions. Despite facing significant hurdles in recent years, more than a third of developers in the UK have been able to expand their business in the last 12 months, demonstrating that the sector has remained resilient and flexible in the face of a volatile market.

“We’re proud to be at the forefront of lenders who are willing to support established developers across the country, providing not just the knowledgeable service they deserve, but also the flexibility and certainty they need from their funder.” 

Shawbrook recently lowered the minimum loan for commercial and semi-commercial products.


Tab enters Scotland market with bridge product 

Specialist lender Tab has launched its bridging loan to the Scotland market, signifying its entrance into the sector. 

It will initially focus its business on the country’s main towns and cities, including commercial and residential properties. 

Tab’s sales development director Jon Sturgess (pictured) will lead the Scotland team and be responsible for forming and developing new relationships in the country. 

Brodies LLP will act as the lender’s main solicitor. 

Sturgess said: “2024 has already been an exciting year for Tab as we continue to extend our lending products across the whole of the UK, and there is no better time than now to launch our offering in Scotland.

“Tab Scotland is an opportunity for us to strengthen our ties and provide our expert lending services to our customers. We’ve already partnered with top brokers in the area, making Tab a go-to place for all lending needs.” 

Alistair Ewing, managing director of Scotland-based broker The Lending Channel, said: “I am delighted to welcome Tab’s short-term lending services to Scotland. Tab’s leadership boasts extensive experience in bridging finance, and their addition to our lender panel demonstrates their dedication to supplying innovative financial solutions personalised to Scottish borrowers.

“I am confident that their presence will enhance our offerings and provide valuable opportunities for our clients. We look forward to a fruitful partnership ahead.” 

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