Shawbrook Bank has unveiled reduced rates of up to 1.06% on commercial products and up to 0.96% on specialist buy-to-let products.

The lender has also simplified its proposition by introducing three LTV tiers that are now consistent across all specialist buy-to-let and commercial products. This new pricing is available as of Monday 19 December.

At the same time the bank is also revising the affordability criteria, in line with the supervisory statement SS13/16, as it introduces separate coverage ratios for individual and corporate borrowers.

Shawbrook’s panel of broker partners will be able to submit applications under the existing criteria until Friday 16 December.

Karen Bennett (pictured), managing director of Shawbrook Commercial Mortgages, said: “We are always looking for innovative ways to enhance our products and the service we provide to our brokers and their clients. The extensive price reductions soon to be live across our specialist buy-to-let and commercial product sets are a practical example of this dedication to good customer outcomes, and part of the latest in a long line of improvements we have made in 2016.

“We are confident that these rate reductions provide a timely boost to brokers and their clients and, whilst the buy-to-let market faces headwinds in 2017, we look forward to continuing to support our partners with a considered and sustainable lending approach.”