Emma Cox

Shawbrook reintroduces heavy refurb products

Shawbrook Bank has confirmed that it has returned some of its pre-pandemic criteria.

In March, the specialist bank made criteria changes  to its bridging finance, commercial investment, BTL, and second-charge products, as a result of Covid-19.

Its heavy refurbishment products under the bridging finance range have now returned with a maximum LTV of 75%.

e-AIP approvals will no longer require manual confirmation as its full e-AIP service has resumed.

Additional assessments have been removed that were temporarily required for bridging and BTL loans over 65% LTV.

On its second charge-mortgage range, the lender announced that it has increased the maximum LTV back up to 85% (previously capped at 75%) and has also reduced the minimum loan amount to £5,000 for LTVs between 75.01% and 85%.

Emma Cox, sales director at Shawbrook (pictured above), said: “While we are not in a position to return all of our criteria to pre-Covid levels, we are delighted with the steps we have taken to ensure we can support more of our customers and create a better journey for our broker partners. 

“Reintroducing our heavy refurb products, increasing our max LTV on our second-charge range, and resuming our full e-AIP service are all such positive changes and I hope will be welcomed by our broker community.”

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