Shawbrook makes changes to short-term lending range
By Martin GreenlandShawbrook's commercial team has revamped its short-term lending product range as it recognises the increasing demand for such lending in the property investment market
Section: mobile apps categories
The specialist bank has reduced the range from nine products down to five, with price reductions of up to 0.26% per month (pm) across the board.
These improvements include:
- residential security requiring no work or a light refurbishment – up to 75% LTV with rates from 0.43% pm
- semi-commercial security requiring no work or a light refurbishment – up to 75% LTV with rates from 0.75% pm
- commercial security requiring no work – up to 70% LTV with rates from 0.83% pm
- residential security requiring heavy refurbishment – up to 75% LTV with rates from 0.60% pm
- semi-commercial and commercial security requiring heavy refurbishment – up to 70% LTV with rates from 0.83% pm
Emma Cox, sales director at Shawbrook (pictured above), said that these improvements had been a long time coming and she was delighted to be able to announce them to kick off the summer months.
“The short-term lending (STL) range has always been a top performer for Shawbrook, and we are confident that these changes will really resonate with our broker partners and their clients.
“All the great benefits of the old range are still in place with 0.25% discount available for repeat borrowers and no minimum interest periods or ERC’s.
“We are also pleased to continue to deliver for ‘bridge to let’ investors, where the borrower looks to refinance the STL onto a mortgage with no arrangement fee.”
Keywords: Specialist finance, specialist lender, commercial finance, commercial property, commercial mortgages, Shawbrook Bank, Shawbrook Commercial, Shawbrook commercial products, Emma Cox, short term finance, short term lender, short term property finance