Shawbrook improves commercial proposition

Published on

Shawbrook Bank

Shawbrook Bank has made a number of changes across its commercial mortgages product range.

Changes for residential properties (specialist buy-to-let, short term and residential refurbishment) are as follows:

  • On loans over £750,000 Shawbrook has removed its minimum margin restriction and increased its maximum LTV to 70% from 65%

Changes for commercial properties (commercial investment and trading businesses):

  • Rates now from 5.45% above 3 month LIBOR up to 60% LTV on its commercial investment product CI1, a reduction of 0.50 bps
  • Rates now from 4.95% above 3 month LIBOR up to 60% LTV on its semi commercial investment product CI2, a reduction of 0.25 bps
  • Rates now from 5.45% above 3 month LIBOR up to 60% LTV on its commercial trading business product TB1, a reduction of 0.50 bps

Shawbrook has also introduced a semi-commercial option for trading businesses, where the residential element has a separate access.

Rates now from 4.95% above 3 month LIBOR up to 60% LTV on its semi commercial trading business product TB2.

Karen Bennett, director of sales and marketing, commercial mortgages, Shawbrook Bank, said: “These changes reiterate our commitment to the commercial mortgage market.

“We have ambitious growth plans for 2013 and beyond, and will continue to work closely with our brokers to ensure that our commercial mortgage product offering, service and processes really work for them.

“Our field sales team regularly feed back brokers’ thoughts on how we can improve our products and processes, and these changes have been made in response to their comments. We are very proud of the collaborative relationship we have with our brokers and are confident these changes will be positively welcomed in the market.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...