Shawbrook commercial breaks £1bn lending barrier
By June alone the bank’s commercial mortgages business had a loan book of £716m, roughly double the £356m recorded in June 2013.
Overall Shawbrook’s lending stood at nearly £2bn by the end of June, an increase of £1.03bn year-on-year.
Stephen Johnson, managing director of Shawbrook Bank commercial mortgages, said: “I’m delighted that we’ve achieved this milestone after only three years and it is testament to the competitiveness of the product range, the efficiency of our processing and systems, the personal service offered by the team and the hard work of Shawbrook’s 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.”
Around 84% of Shawbrook’s commercial mortgage lending has been to property investors, while 16% had been to trading businesses.
Shawbrook conducts all of its lending through brokers.