Shawbrook Bank’s commercial mortgages division has made a reduction in arrangement fees across all its term products, from 1.70% to 1.50%.
To illustrate this, Shawbrook said that based on a loan of £350,000, this reduction will mean clients will make a saving of £700.
The reduction is available on all new Shawbrook applications with immediate effect, and is also applicable to any existing cases where a formal mortgage offer has not been made.
Shawbrook’s arrangement fee (after deducting the commitment fee paid at the point of mortgage offer) is added to each loan. This fee is added outside of the published product LTV limits.
Karen Bennett (pictured), sales and marketing director for commercial mortgages at Shawbrook Bank, said: “The reduction of our arrangement fees, alongside the additional clarity we are providing across our product range, is part of our ongoing dedication to improve our product line for our broker partners and their clients.
“Our unwavering commitment to the broker market remains and we pride ourselves on our pragmatic approach to lending to ensure good customer outcomes, as this reduction demonstrates.”
