British Business Bank agrees £150m funding deal with Shawbrook

The British Business Bank has agreed a £150m funding deal with Shawbrook to increase the amount of development finance that the specialist bank can provide to smaller housebuilders in the UK.

The transaction was made under the British Business Bank’s ENABLE Build programme.

Shawbrook has surpassed £2bn of lending to UK property developers, creating over 8,000 new homes. The new guarantee is expected to further support over £300m of finance to help fund the creation of new homes across England and Wales over its lifetime.

With this transaction, Shawbrook has become the third delivery partner for the programme, which was expanded from £1bn to £2bn at the Government’s 2024 Autumn Budget.

The British Business Bank is the Government’s economic development bank. Its ENABLE Build programme is open to UK incorporated banks, UK branches of foreign banks, asset and asset-based finance providers, as well as certain other categories of lenders which provide development finance to smaller housebuilders operating in the UK.

Head of structured guarantees at British Business Bank, Michael Strevens, said: “The Government’s recent expansion of ENABLE Build significantly increased the programme’s capacity, and this transaction with Shawbrook continues that momentum.

“We’re delighted to partner with Shawbrook as the third delivery partner for the programme and look forward to the initial £150m unlocking more finance for smaller housebuilders to build homes across England and Wales in 2025 and beyond.”

Senior director of development finance at Shawbrook, Simon Knowles, added: “Partnering with the British Business Bank on the ENABLE build scheme is a fantastic opportunity to grow our support for housebuilders.

“Shawbrook has a proven track record of supporting SME housebuilders, who are vital in helping meet the ever-growing demand for new homes. This partnership will strengthen the support we can offer across the UK.”



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