Shawbrook Bank has made a reduction in rates across its Commercial Heavy Refurbishment product range, with rates now starting from 0.60% per month.
Details are as follows:
| Loan to Value | Old Rate | New Rate |
| 50% LTV | 0.90% per month | 0.60% per month |
| 50.01-60% LTV | 1.00% per month | 0.70% per month |
| 60.01-70% LTV | 1.10% per month | 0.80% per month |
This repricing brings the specialist lenders’ rates on commercial and semi-commercial heavy refurbishment in line with its current residential heavy refurbishment pricing.
Shawbrook’s range is suitable for complex commercial bridging cases.
Emma Cox (pictured), head of sales at Shawbrook Bank, said: “The bridging market is a core part of our proposition and we are delighted to support our brokers and their clients with this pricing improvement.
“We are in constant dialogue with our broker partners about what is important to them in this space, and our product improvement programme demonstrates our commitment to feedback-based change – not only around price – but also in terms of flexibility, service, communication and ease of application, all of which are fundamental to supporting positive customer outcomes.”
