Shawbrook updates pricing and LTV bands on wide range of products

By Bridging Loan Directory -

 

ShawbrookThe Shawbrook Commercial Mortgage division is making banding and pricing changes to a broad range of products to keep them in line with the changing needs of its brokers. In addition to Shawbrook’s recent new products and the existing customer discounts on offer, these changes will help brokers better serve their trading business and property professional clients alike.

Each updated product will now contain more LTV pricing bands in order to increase its flexibility. Moreover, 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, Sales & Marketing Director, Commercial Mortgages, Shawbrook Bank:

“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 per cent of our business was written below 60 per cent 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.”