Shawbrook Bank's enhanced commercial offering outlined at Property Investor Show
By AdminShawbrook Bank is exhibiting at the UK's largest property investment event, the Property Investor Show, this week.
At the Show, Shawbrook will present its enhanced commercial lending offering for property investors including its short term loans (STLs).
Shawbrook is targeting experienced property investors with strong net worth and assets, a client profile that they currently support with their term loan lending.
There remain significant opportunities in the market for property investors to grow their portfolios, but many still face a barrier that is becoming all too common: securing finance, and securing it fast. Shawbrook Bank understands this and has enhanced its STL offering in the commercial lending market as a result, with key points outlined below:
- A new medium term residential loan for investors looking to buy, refurbish and release equity from the after works value of the property
- A reduction in the rental cover required on three or five year residential investment products
- Reduced rates on semi-commercial investment products
- Maximum loan increased to £10m for certain investment products
- Market leading transparency on product pricing, criteria and credit appetite for a commercial bank
- Current rates range from 0.68% per month for residential property, 0.77% per month on mixed use and 0.83% on commercial, Shawbrook will lend up to 70% LTV and have various interest servicing options.
Shawbrook's short-term products include:
- Short term finance loan for acquisition: Ideal for auction purposes where a customer is looking to purchase residential, mixed use or commercial property. Rates start at 0.68% per month with loan sizes from £75k to £2.5m, terms from 3 to 18 months and up to 70% LTV.
- Short term finance for light refurbishment: Specifically designed for residential and mixed use light refurbishment projects, these products can help experienced property investors to make a quick purchase and complete decorative refurbishment prior to being let or resold. Competitive monthly rate of 0.84% with terms from 3 to 12 months and up to 70% LTV. Loan size ranges from £75k to £2.5m.
Stephen Johnson, Managing Director of Commercial Lending at Shawbrook Bank, said: “We are a relatively new lender in the short term loan space, but we’ve already seen high demand for our short term loan products which offer competitive pricing and fee structures.
“Shawbrook’s appetite to lend to professional investors is strong, and we’re constantly looking at ways to improve our products and processes to meet the needs of our brokers and clients. Shawbrook has some very ambitious plans, and we’re confident we can continue to build on the positive momentum we’ve generated since the launch of our STL range”.