Improvements keep coming on Shawbrook’s commercial mortgage products
By Bridging Loan Directory -
Shawbrook Bank has given its brokers more good news in January with a raft of changes across its commercial lending product range. Highlights include reducing its arrangement fees to 1.70% and offering a reduction of up to 0.60% on its rates.
The changes are part of Shawbrook’s continued commitment to property investors and SMEs in the UK.
Residential Investment enhancements include:
Arrangement fees reduced on all term products to 1.70%. Shawbrook’s arrangement fees are also added to the loan (outside of max LTV)
Rates reduced by up to 0.60% on all Residential Investment Products These start from 4.75% above 3 month LIBOR and the 75% LTV Product is now just 4.95% above 3 month LIBOR
Aggregate values now used for up to 5 units in a block
Shawbrook will now accept business up to £10m on Residential Products
Commercial Investment enhancements include:
Rates reduced by up to 0.35% on Semi Commercial Products. These now start from 5.20% above 3 month LIBOR up to 70% LTV
Arrangement fee reduced by 0.80% to 1.70%
Medium Term Refurbishment change:
Margin reduced by 0.50%, now just 4.95% above 3 month LIBOR.
Karen Bennett, Head of Sales and Marketing, Commercial Mortgages, Shawbrook Bank, said:
“We want to make Shawbrook the lender to follow in 2013, and we introduced these exciting improvements as a sign of our intent. Brokers are at the heart of our business and we value the strong relationships we share. There is more good news to follow, so watch this space.”
For further information, or to contact Shawbrook’s sales desk to talk through any potential cases, please call: 01277 751111.