The British Business Bank has agreed to an ENABLE Build transaction of up to £150m with Shawbrook.
This funding aims to boost development finance for smaller housebuilders in the UK.
Shawbrook has lent over £2bn to UK property developers, resulting in the creation of more than 8,000 new homes.
The guarantee from the British Business Bank is expected to facilitate over £300m in finance for new homes across England and Wales.
The ENABLE Build programme encourages more lending to small housebuilders and is available to UK banks, foreign banks with UK branches, asset finance providers, and other lenders.
With this agreement, Shawbrook becomes the third partner in the programme, which has increased its capacity from £1bn to £2bn following the Government’s 2024 Autumn Budget.
Michael Strevens, head of structured guarantees, British Business Bank said: “The Government’s recent expansion of ENABLE Build significantly increased the programme’s capacity, and this transaction with Shawbrook continues that momentum.
“We’re delighted to partner with Shawbrook as the third delivery partner for the programme, and look forward to the initial £150m unlocking more finance for smaller housebuilders to build homes across England and Wales in 2025 and beyond.”
Simon Knowles, senior director of development finance at Shawbrook, said: “Partnering with the British Business Bank on the ENABLE build scheme is a fantastic opportunity to grow our support for housebuilders.
“Shawbrook has a proven track record of supporting SME housebuilders, who are vital in helping meet the ever-growing demand for new homes.
“This partnership will strengthen the support we can offer across the UK.”
