This guarantee is expected to further support over £300m of funding for new housing delivery in England and Wales.

The funding has been provided under ENABLE Build, a programme designed to encourage additional lending to smaller housebuilders.

Shawbrook has become the third delivery partner of the programme which is open to UK banks, UK branches of foreign banks and asset and asset-based finance providers.

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“Partnering with the British Business Bank on the ENABLE build scheme is a fantastic opportunity to grow our support for housebuilders,” said Simon Knowles, senior director of development finance at Shawbrook.

“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.”

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