What They Share
You’re comparing two regulated specialist banks, not private credit funds. Shawbrook and Aldermore both lend on residential ground-up development and heavy refurbishment, both work mainly through brokers, and both release funds in stages against a monitoring surveyor.
Your day-to-day experience is much the same across both: staged drawdowns, a monitoring surveyor signing off each stage, and a prior track record expected on most deals. Your cash flow depends on hitting build milestones cleanly.
You won’t get either facility without a monitoring surveyor on site. The day your broker puts the same scheme to both, the winner comes down to detail, not the headline.
How the Leverage Compares
You’ll notice the gearing is where they diverge. Shawbrook stretches to around 85% of cost and caps loan-to-GDV near 65%, or about 70% on refurbishment; Aldermore takes a more conservative view, holding loan-to-GDV around 65%.
At 85% of cost against a 65% loan-to-GDV cap, Shawbrook’s higher gearing can mean a smaller deposit from you. Aldermore’s steadier stance may ask more equity but leaves your cash flow less stretched.
You can’t assume both banks reach the same leverage. That’s the gap that decides your equity cheque, so run both caps before you bank on either.
Loan Sizes and Term
You’ll find the facility ranges overlap but differ at the top. Shawbrook typically lends from about £1m to £30m on terms up to 36 months; Aldermore covers a wider band, from around £1m to £50m.
Past £30m, the ceiling does the choosing: a larger scheme points you toward Aldermore’s higher limit, while both banks handle the mid-market deals your cash flow is built around.
You won’t fit a £45m scheme inside Shawbrook’s ceiling. At quarter-end your finance director maps the pipeline against each bank’s limit, so the biggest scheme still has a lender.
Track Record and Appetite
You’ll feel the difference most in underwriting. Shawbrook leans toward experienced developers with full planning in place; Aldermore, as a challenger bank, takes a more flexible view on track record, which can help a developer with a shorter history.
Your history and planning status shape who says yes. A first-time or lighter-CV developer may find Aldermore more receptive, while Shawbrook’s appetite rewards a proven record and prices it with tighter terms your cash flow feels.
You can’t lean on planning you don’t yet hold. That’s the real gate here, and it’s why a first scheme often goes to Aldermore rather than Shawbrook.
Which One to Approach
You should let the scheme and your CV point the way. Higher cost leverage or a proven record leans Shawbrook; a larger facility, a lighter track record or a more flexible read leans Aldermore.
Your broker’s live read usually beats first principles. Both banks move their pricing, speed and criteria with capacity, so a broker who knows this quarter’s stance protects your cash flow better than any table.
You won’t see this quarter’s real appetite on a website. At month-end your accountant asks the broker which bank is actually lending now, so the approach matches the market rather than last year’s reputation.
Shawbrook vs Aldermore FAQs
What is the main difference between Shawbrook and Aldermore development finance?
Both are regulated specialist banks lending on residential ground-up development and heavy refurbishment through brokers, so the model is similar. The main differences are leverage and appetite: Shawbrook stretches to around 85% of cost and rewards experienced developers with full planning, while Aldermore takes a more conservative view on loan-to-GDV but lends larger facilities and is generally more flexible on track record. Which one fits depends on your scheme size, leverage need and development history.
Which lends more, Shawbrook or Aldermore?
It depends whether you mean leverage or facility size. On leverage, Shawbrook goes higher on cost, to around 85% of total cost, and caps loan-to-GDV near 65% (about 70% on refurbishment). On facility size, Aldermore reaches further, lending up to around £50m against Shawbrook’s roughly £30m ceiling. So a highly geared mid-market scheme may suit Shawbrook, while a very large scheme may need Aldermore’s higher limit.
Which is better for a first-time developer?
Aldermore is often the more realistic starting point for a developer with a shorter track record, because as a challenger bank it tends to take a more flexible view on experience. Shawbrook’s appetite leans toward proven developers with full planning already in place. That said, both are specialist banks that expect a monitoring surveyor and staged drawdowns, so neither is a light-touch lender, and a broker will know each bank’s current stance on first-time developers.
How do you choose between Shawbrook and Aldermore?
Let the scheme and your CV decide. Higher cost leverage or a strong track record leans toward Shawbrook; a larger facility, a lighter history or a need for flexibility leans toward Aldermore. Because both banks move their pricing, speed and criteria with current capacity, a broker who works with each one regularly will usually give you a sharper read on this quarter’s appetite than any published comparison. Terms depend on the specific scheme and your record.
How we compared Shawbrook and Aldermore development finance
What we covered. We compare two specialist bank development finance lenders in 2026: Shawbrook and Aldermore, across leverage, facility size, term and track-record appetite. We do not rely on comparison-site summaries or the lenders’ marketing headlines alone.
Data sources. Leverage, facility-size and term ranges were checked against primary sources in July 2026, including each bank’s development finance pages and the assessment in our best development finance lenders roundup.
How we handle gaps. Where a figure varies by scheme, we give the market range rather than a single false-precision number, and we flag that appetite, pricing and speed move with each bank’s current capacity.
Update cadence. We re-verify this page at least monthly, and whenever a lender changes criteria or pricing. The verification date reflects the most recent full review. Some links on this page are affiliate links, see our editorial policy.
Regulatory note. This page is editorial content, not regulated financial advice. Development finance to a limited company or investor is generally unregulated lending, so compare facilities and read the terms before you sign.