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Shawbrook restructures complex developer finance in just 7 days

26 April 2018

Commercial broker DMI Finance approached Shawbrook’s Commercial Property team with a high net worth client with a significant property portfolio, looking to combine 19 loans into just four totalling £2.1m, plus raise an additional £350,000 for further property purchases.

Despite its complexity this case was dealt with confidently and efficiently by the Shawbrook lending team. The client is a very experienced borrower, with a good geographical spread of properties across London and the South West and a sensible spread of risk across the portfolio. Not only were Shawbrook happy to lend, they also managed to save the client thousands of pounds by completing 21 desktop valuations (AVMs) across the case, with the Lending Manager and broker expertly guiding the transaction towards a successful 7 day completion (from issue of the offer).

Richard Manning, DMI Finance comments on the deal: “Having worked with Shawbrook for a number of years, we were comfortable asking them to handle a complex, 21-property, internal refinance for our biggest professional landlord. Using the new Automated Valuation Model, Shawbrook was able to seamlessly re-appraise these 21 assets and proceed to Formal Offer within a very short space of time. Our Business Development Manager Pete Turner assisted throughout, proactively providing updates where needed, so we were never in a position where the client had to ask for a progress report. Once offers were issued, having the option to go “non-represented” meant that we could proceed to completion in no time at all, also saving thousands of pounds in legal costs.

These funds enabled our client to expand his portfolio, and the ease of working with Shawbrook Bank will almost certainly ensure that these and other properties will be sent their way. Thank you to all involved, another positive experience for both us as broker and, more importantly, the client!” 

Senior Relationship Manager for Shawbrook Commercial, Peter Turner adds: “I am so pleased that rather than seeing the complexities of this case, we saw the possibilities instead. Not only that but our savvy underwriting team were able to help the customer by completing numerous AVMs, as opposed to going through the lengthy and more expensive process of having the properties appraised externally. Once again this highlights our specialist knowledge that we can offer to professional landlords. ”