Shawbrook provides £3 million development exit facility to support Wimbledon scheme
At a glance
Shawbrook has provided a £2.98m development exit loan to support an experienced property developer in refinancing a partially sold residential scheme in Wimbledon, completing the transaction in just two and a half weeks from application.
The development comprised nine units in total, including three flats and two mews houses, with four sales already completed. The facility was structured at 75% LTGDV, enabling the client to reduce their overall cost of capital while releasing equity to support future projects.
Delivering speed and certainty
The client required a solution that allowed flexibility for the remaining sales, with timing a key consideration. Shawbrook progressed quickly, enabling the refinance without delay.
Agreed at 75% LTGDV, the facility reflected the strength of the scheme and sales achieved to date, while providing a clear route to lower-cost finance.
At GDV Finance, we pride ourselves on delivering fast, commercially driven solutions for our clients, and this transaction was a strong example of that. Shawbrook and their professional partners worked closely with us throughout, enabling a smooth completion within just a couple of weeks.
Alex Mills, Relationship Director at Shawbrook:
“This is a good example of how we can move quickly on straightforward deals. By maintaining close communication with GDV Finance throughout, we were able to keep the process moving and deliver a smooth exit for the client.”
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