Albatross, the specialist lender, has secured a multi-million-pound increase in funding from Shawbrook to support its loan book growth.
The London-based lender, specialising in bridging and refurbishment loans, was established in 2018, and in 2021 secured its first facility from Shawbrook.
Albatross has written around £110m worth of loans over the past three years.
This latest tranche of finance means that Shawbrook is now able to provide up to a 90% advance rate for Albatross, as one of Shawbrook’s established clients.
Warren Mutch, head of speciality finance at Shawbrook, said: “Working with the team at Albatross has been a great experience, and watching them go from strength to strength since we first partnered in 2021 has been incredibly gratifying.
“Indeed, as our relationship has grown so has the size of the facility, which given Albatross’ track record of success is the obvious next step in our working relationship.
“We are excited about Albatross’ future prospects, and look forward to supporting the team every step of the way.”
Lewis Casserley, co-founder and principal at Albatross, added: “The team at Shawbrook has been a great help since we first started working together in our early stages.
“Being able to work with a lender who not only provides the facility itself, but support needed to successfully grow, has been integral to our success.
“The facility increase was exactly what we needed to support our next stage, and we look forward to a continued partnership with Shawbrook as we continue to grow.”
