Shawbrook Bank increases maximum loan size across second charge offering

Shawbrook has increased the maximum loan size across their prime second charge mortgage proposition, with changes impacting the 75% and 85% LTV bands.

The maximum loan size has increased from £100,000 to £150,000 on loans up to 85% LTV, whilst the more significant increase has been made on loans up to 75% LTV, with the maximum loan amount rising from £200,000 to £500,000.

Gavin Seaholme, pictured, Head of Sales at Shawbrook’s Property Finance division said:

“This is just another step in our ongoing product innovation plans for 2021.

We are committed to supporting the second charge market and want to give our brokers a wider choice when it comes to assisting clients with larger funding requirements.”