MortgagesOct 14 2014

Shawbrook’s commercial loans reach £1bn milestone

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Shawbrook Bank’s commercial mortgages division has today (14 October) passed £1bn in lending to smaller enterprises and professional property investors.

Since the bank’s launch in October 2011, the loan book grew to £356m by June 2013 and on to £716m in June 2014. Shawbrook in total recorded lending of close to £2bn at the end of June this year, up from £1bn the previous year.

The commercial mortgages team offers a range of property finance, 84 per cent of which goes to property investors and 16 per cent to trading businesses.

It conducts all lending through brokers and the loans range from short term finance for residential investment and residential refurbishment loans, to commercial loans for both investment and trading purposes.

Stephen Johnson, managing director of Shawbrook Bank commercial mortgages, said reaching the milestone was testament to the competitiveness of the product range, the efficiency of processing and systems, and the hard work of network of broker partners.

“Partnership has always been at the heart of our approach and we’re gratified to see how well received our specialist lending model has been among property investors and SMEs.

“It’s particularly wonderful that we are able to announce this achievement as we reach our third birthday, and we’re looking forward to working with more small businesses and investors across the country in the coming year as we continue to build the business.”

peter.walker@ft.com