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.”