The specialist bank has supported the development of over 500 units, working with over 45 developers.
In its first full year in the development finance sector, lending to developers surpassed £100m and Shawbrook is on course to more than double that figure in its second year.
Shawbrook’s development finance lending has supported residential refurbishments, student accommodation and mixed-use schemes.
The bank’s development finance team has also grown from five to 15 people, which has allowed it to expand its reach to major cities such as Bristol, Birmingham, Leeds, Glasgow and Manchester.
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Terry Woodley, director of development finance at Shawbrook, said it had been building its development finance proposition over the past 22 months and was happy at how fast it had grown.
“We have big plans for our development finance business, including significantly increasing both the number of people in the team and the amount we lend over the next year.
“One of our major advantages is that we are funded by deposits, meaning we have a steady stream of funding to keep the lending tap on all year round.
“The bank sees development finance as one of its key areas.
“We are determined to become the lender of choice in this space.”