Shawbrook brings back 'lending for refub costs' bridging offering

Shawbrook Bank has reintroduced its unregulated bridging 'lending for refurbishment costs' product.

The lender will offer up to 85% LTV on residential BTL properties when lending for refurbishment costs.

The product was temporarily withdrawn last year in response to the impact of Covid-19, but was brought back as a result of growing demand and confidence in the bridging market.

The change follows a series of recent enhancements to its product ranges, including revised pricing across its regulated and unregulated bridging offering and reduced BTL rates.
Gavin Seaholme, head of sales at Shawbrook Bank (pictured above) said: “Lending for refurb costs is a key part of our product offering and one that is well received by our broker community, so we’re really excited to bring it back.
“Demand in the bridging market remains strong, so it’s important that we adapt to support brokers and help them take advantage of the opportunities that are out there. 
“We’re looking forward to supporting the market throughout 2021 with even more positive changes to follow in the coming months.” 

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