July release for Shawbrook’s fixed rates

July release for Shawbrook's fixed rates




Across Shawbrook Bank's commercial mortgage suite, a range of fixed rate products will be launched.

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p>Across Shawbrook Bank’s commercial mortgage suite, a range of fixed rate products will be launched. 

The bank has said that this is in response to brokers who want to provide their clients with more predictability in payments. The growing speculation of interest rate rises in the market has been an added contributor to the launch. 

The products, which are currently in a testing phase, will have options of two, three, four, or five years. When they reach fixed rate expiry, the product will then return to the variable interest margin of the time and LIBOR (subject to 0.75 per cent LIBOR floor). However, they do exclude short term loans. 

Alternatively, clients will be able to choose a three or five year fixed rate with a bullet repayment. 

Karen Bennett, Sales & Marketing Director, Commercial Mortgages, Shawbrook Bank said: “We’re excited that we’ll soon be able to offer fixed rate options to our brokers and their clients. No booking fees are payable for the fixed rates and we understand the importance of clarity of price for the clients; this will be reflected within the process when launched. 

“We feel the addition of a fixed rate period across all our products further strengthens our range of solutions for property professionals and SME clients.”  









 

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