Shawbrook rejigs commercial pricing and LTV bands

Published on

Karen-Bennet

Shawbrook Bank’s commercial mortgage division has made banding and pricing changes to a range of products.

Each updated product will now contain more LTV pricing bands and Shawbrook is reducing the rates across every band on each product. The reduction in rates varies from 5bps to 35pbs depending on the product and price banding.

The following products are affected:

Residential Investment Products

  • RI1 – Single residential properties
  • RI2 – HMOs and student lets
  • RI3 – Portfolios of residential properties
  • RR1 – Residential refurbishments

Commercial Investment Products

  • CI1 – Commercial property/ies – single & portfolios
  • CI2 – Semi-commercial property/ies – single & properties
  • Trading Business Products
  • TB1 – Commercial property/ies – single & multiple
  • TB2 – Semi-commercial property/ies – single & multiple
  • TB3 – Pubs

Karen Bennett (pictured), sales and marketing director for commercial mortgages at Shawbrook Bank, said: “Our business is built around our broker partners and we aim to be the best at what we do because brokers deserve nothing less.

When we realised that 50% of our business was written below 60% LTV we re-evaluated our pricing and decided to introduce more LTV buckets as well as pricing improvements at all LTV levels.

“We never rest on our laurels and alongside our recent new product launches we want these changes to help brokers attract even more deals.”

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

The Cumberland partners with FareShare to combat Glasgow food poverty

The Cumberland Building Society’s commercial team has partnered with FareShare Glasgow and the West...

More2life unveils Tailored Interest Reward lifetime mortgage

More2life has launched its latest lifetime mortgage, Tailored Interest Reward, designed to provide later...

Pivot provides complex multi-loan deal for Denby Dale development

Pivot has completed a funding package consisting of three loans for a residential development...

HREF reports record month for lending

Hilco Real Estate Finance (HREF) has recorded its strongest month to date, completing three...

Other news

The Cumberland partners with FareShare to combat Glasgow food poverty

The Cumberland Building Society’s commercial team has partnered with FareShare Glasgow and the West...

More2life unveils Tailored Interest Reward lifetime mortgage

More2life has launched its latest lifetime mortgage, Tailored Interest Reward, designed to provide later...

Pivot provides complex multi-loan deal for Denby Dale development

Pivot has completed a funding package consisting of three loans for a residential development...