Partnership promises to unlock finance for homebuilders

A UK-wide initiative to “unlock” housing development finance has taken a major step forward with a £150 million ENABLE Build transaction between the British Business Bank and specialist lender Shawbrook.

Shawbrook, which has already provided over £2 billion in development finance to UK property developers, will use the funding to provide further support to smaller housebuilders across England and Wales. 

The agreement is expected to facilitate over £300 million in finance, contributing to the creation of thousands of new homes.

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.”

With this transaction, Shawbrook has become the third delivery partner under the Government-backed ENABLE Build programme, which was expanded from £1 billion to £2 billion in the 2024 Autumn Budget with the aim to drive new housing supply by providing guarantees to lenders supporting viable development projects across the UK.

Michael Strevens, head of structured guarantees at the British Business Bank, added: “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.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →