Shawbrook increases funding by nearly 50% to support Albatross loan book growth

• London-based bridging lender, Albatross has secured an uplift in funding from Shawbrook 
• The increased facility will support multiple funding lines and providing a diverse capital base

Albatross, the specialist lender, has secured a multi-million-pound increase in funding from Shawbrook to support its loan book growth.

The London-based lender, specialising in bridging and refurbishment loans was established in 2018, and in 2021 secured its first facility from Shawbrook to support growth during its early stages. Since then this has grown substantially, with a recent increase of nearly 50% of the existing facility to support multiple funding lines and providing a diverse capital base.

Albatross has a strong proven track record, having written around £110m worth of loans over the past three years. This latest tranche of finance means that Shawbrook is now able to provide up to a 90% advance rate for Albatross, as one of Shawbrook’s established clients. Having worked together since Albatross’ early stages, Shawbrook has grown with Albatross, providing not only financial support but also the expertise in growing lending businesses.

Lewis Casserley continued:

"The facility increase was exactly what we needed to support our next stage, and we look forward to a continued partnership with Shawbrook as we continue to grow.”

Warren Mutch, Head of Speciality Finance at Shawbrook said:

"Working with the team at Albatross has been a great experience, and watching them go from strength to strength since we first partnered in 2021 has been incredibly gratifying. Indeed, as our relationship has grown so has the size of the facility, which given Albatross’ track record of success is the obvious next step in our working relationship. We are excited about Albatross’ future prospects, and look forward to supporting the team every step of the way.”

Fieldfisher acted as legal counsel to Shawbrook.