Shawbrook introduces bridging fixed rates

Published on

Shawbrook Commercial Mortgages has updated its pricing for short term and regulated bridging product ranges.

Its short term and regulated bridging mortgage offerings will now operate on a fixed rather than a variable basis. The rate will be fixed at the offered rate and will remain unchanged for the duration of the term.

The bank has confirmed that any new offers will now reflect the change along with all available online tools within its Broker Hub portal.

Karen Bennett (pictured), managing director of commercial mortgages said: “We feel that by offering a fixed rate it allows the customer to have a clear picture of their financial commitments at the end of the term when these are rolled up and retained. This is standard practice within the bridging market, bringing us more in-line with our peer group, and when coupled with the compelling nature of our short term product offering ensures Shawbrook is even better placed to deliver the right outcome for the client.

“This change comes following feedback from our broker partners along with market analysis by the short term lending team and I am delighted to be able to bring this to 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

Berkeley Alexander appoints new BDM

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

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...

Mortgage product availability surpasses 25,000 for the first time

The number of mortgage products available in the UK has reached an all-time high,...

ASG Finance launches loan for HNW investors

ASG Finance has introduced its latest funding initiative: the ‘Base Rate Beater’ secured investment...

Other news

Why it matters that bridging hit more than £10bn last year

We see many numbers bandied around in the financial industry, which can sometimes have...

Berkeley Alexander appoints new BDM

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

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...