British Business Bank agrees £150m ENABLE Build transaction with Shawbrook

The British Business Bank reports that it has agreed an ENABLE Build transaction of up to £150m with specialist bank Shawbrook to increase the amount of development finance it provides to UK smaller housebuilders.

Shawbrook has surpassed £2bn of lending to UK property developers, creating over 8,000 new homes. The 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. 

Shawbrook provides specialist lending products, which include complex structured credit facilities for growth-focused businesses, mortgages for professional landlords and property investors, and simple loans for individuals delivered digitally to over 350,000 customers.

The ENABLE Build programme is focused on encouraging additional lending to smaller housebuilders in the UK. The 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, or intend to provide, development finance to viable smaller housebuilders operating in the UK.

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