Positive Lending is to pay for upfront valuation costs associated with Shawbrook secured loans on buy-to-let property.
Currently, buy-to-let second charge loans are unregulated and therefore upfront packaging costs can be passed to the borrower prior to completion. Positive Lending claims that from its research “most packagers do pass costs to the borrower”.
Chris Fairfax, managing director of Positive Lending, said: “We are always looking for ways to differentiate Positive Lending from our competitors and deliver genuine value to our introducers.
“We believe this is another innovative offering that will help to maximise conversion.”
Maeve Ward, head of sales, secured lending at Shawbrook Bank, said: “Positive put the introducer at the heart of everything they do, and continuously ask for feedback so that they can improve their market proposition.
“Introducing this new initiative will set them aside from the competition whilst further cementing their commitment to the intermediary market.”