Shawbrook and United Trust Bank are the two specialist banks Boxx Finance works with on bridging, and both offer a different kind of certainty from a non-bank lender. They diverge sharply, though, on refurbishment appetite and credit flexibility.
Shawbrook and United Trust Bank side by side
| Shawbrook Bank | United Trust Bank | |
|---|---|---|
| Loan size | £100,000 to £25 million or more by referral | From around £50,000 to £15 million |
| Security | First charge; second by referral | First or second charge |
| Residential LTV | 75% | 75% |
| Commercial LTV | 75% (since July 2026) | By referral |
| Semi-commercial | 75% | Residential element can cover up to 100% of the facility |
| Refurbishment | Day-one advances up to 90% | 75% LTV on light, medium and heavy |
| Re-bridging | Not a stated specialism | 70% LTV, or 75% on a closed bridge |
| Credit | Prefers clean profiles; adverse by exception | Near-prime range since August 2026 |
| Term | Up to 24 months by referral | Up to 24 months |
| Coverage | England, Wales and Scotland | England, Wales and Scotland |
What this means in practice
Shawbrook has become the stronger commercial LTV option since its July 2026 increase to 75%, and offers generous day-one refurbishment advances of up to 90%. United Trust Bank has moved the other way on flexibility: its August 2026 near-prime range and reintroduced heavy refurbishment appetite make it noticeably more accommodating of complexity than a specialist bank profile might suggest.
Head-to-head
Commercial lending
Shawbrook's published 75% LTV beats UTB's referral-only commercial figure. For a larger commercial purchase where leverage matters, Shawbrook is the more predictable option.
Refurbishment
Both are genuine options. Shawbrook's 90% day-one advance is the more generous headline number, reducing how much the borrower funds before works start. UTB's 75% LTV across light, medium and heavy refurbishment, with heavy reintroduced in 2026, is a broader, more consistent offering across the scope of works.
Credit
UTB is clearly more flexible following its near-prime launch, while Shawbrook still prefers cleaner profiles and treats adverse credit as an exception rather than a defined product tier.
Mixed-use property
UTB's enhanced semi-commercial structure, where the residential element can cover up to 100% of the facility, can work well for a shop with flats above. Shawbrook's flat 75% across property types is simpler to plan around.
Speed
Neither bank is built for rushed completions. Both suit larger, more considered cases where the certainty of a bank's balance sheet matters more than the fastest possible timeline.
Which lender fits which case
An experienced investor buying a sizeable commercial building with clean credit and a realistic timeline is a natural Shawbrook case. The published 75% commercial LTV gives a clear starting point.
A landlord whose first bridge has run longer than planned, and who needs to re-bridge while a sale completes, points towards UTB, particularly if there is a historical credit blip on file.
A heavy refurbishment where the purchase needs to be funded as fully as possible on day one may suit Shawbrook; one where consistent LTV across the scope of works matters more may suit UTB. Our guide to bridging loans for refurbishment covers the structures in more detail.
Which to choose
Choose Shawbrook for larger, cleaner commercial or semi-commercial bridging where maximum leverage matters and credit is clean. Choose United Trust Bank where refurbishment scope varies, re-bridging is involved, or the borrower has a historical credit blip that a cleaner-credit lender would decline.
When neither is the best fit
If the deal needs to complete within two weeks, a faster non-bank lender such as MT Finance is the better route. For serious adverse credit, Together is usually better placed. For complex ownership such as Trusts or offshore companies, Lendco is built for it. The full Shawbrook review and United Trust Bank review cover each bank in more depth.
Preparing a case for a specialist bank
Both banks underwrite in more depth than many non-bank lenders, and a well-prepared file is the quickest way through. That usually means a clear exit with supporting evidence, details of the borrower's experience with similar property, a documented source for the deposit and, on refurbishment, a costed schedule of works and a realistic programme. Where there is any credit history to explain, as there may be on a near-prime case, set it out at the start rather than letting the underwriter find it.
Questions worth asking before you choose
- Is the security commercial, and does the case need a published LTV rather than a referral?
- Is there any credit history that a clean-credit lender would question?
- Is this a re-bridge, and is the existing bridge closed?
- On a refurbishment, does the day-one advance or consistency across the scope matter more?
- Does the timeline allow for a bank's underwriting?
Summary
Both are strong specialist-bank choices, but Shawbrook leads on commercial leverage and day-one refurbishment advances, while UTB leads on credit flexibility and re-bridging. Figures above are correct as of August 2026 and should be confirmed with your broker before an application.
