£150 million deal to fund smaller housebuilders in England and Wales Deal

British Business Bank and Shawbrook team up to boost housing development finance

£150 million deal to fund smaller housebuilders in England and Wales Deal

Smaller housebuilders in the UK are set to gain greater access to development finance following a £150 million ENABLE Build transaction between the British Business Bank and specialist lender Shawbrook.

Launched to promote lending to smaller housebuilders, the ENABLE Build programme is open to banks, foreign bank branches, and other providers of development finance.

Shawbrook joins as the third delivery partner for the initiative, which was expanded from £1 billion to £2 billion in the Government’s 2024 Autumn Budget. The agreement is expected to support over £300 million in finance over its lifetime, facilitating the construction of new homes across England and Wales. 

“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 £150 million unlocking more finance for smaller housebuilders to build homes across England and Wales in 2025 and beyond,” said Michael Strevens, head of structured guarantees at the British Business Bank.

Shawbrook has already provided more than £2 billion in loans to property developers, enabling the creation of over 8,000 homes. The new partnership will allow the bank to further extend its support for smaller housebuilders, who are seen as critical in addressing the UK's housing shortage. 

“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,” said Simon Knowles, senior director of development finance at Shawbrook.