A family-run developer secured the facility for a mixed-use block comprising 17 apartments and one retail unit.

Originally structured as a joint funding arrangement with two lenders — £6m for 11 apartments earmarked for sale and separate funding for six rental units — the developer faced unforeseen delays that prevented the second lender from proceeding at completion.

Shawbrook stepped in pre-completion to provide a fully consolidated loan facility.

Shawbrook’s relationship director, Alex Mills, tailored a 70% LTGDV facility that leveraged the developer’s strong track record and experience.

This bespoke solution enabled the client to refinance the entire scheme with a single facility, providing operational efficiencies and cost savings.

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The consolidated loan repaid existing borrowing and secured a more competitive rate for 12 months, giving the developer room to complete the project and bring homes to market for both sale and rental.

Alex commented: “Our ability to step in before the project was completed — something many lenders typically avoid — proved to be a game-changer.

“Initially, we planned to co-fund the deal at completion alongside another lender, but unforeseen delays prevented them from moving forward.

“Leveraging the borrower’s strong track record and our in-house development finance expertise, we were able to consolidate the funding into a single, flexible, and bespoke facility.”

Neil Peck, principal at Westbury Advisors, added: “The development exit loan that Shawbrook delivered for our client, especially during delays with the other lender, was fantastic.

“Alex and Tina [Carling] kept us fully informed throughout, providing tailored finance that met our client’s specific needs.

“We’re looking forward to hopefully working with Shawbrook again on the next project.”