Shawbrook has unveiled two new mortgage products for its buy-to-let, commercial and semi-commercial ranges.
The offerings include a new two-year fixed rate mortgage and a 10-year fixed rate mortgage.
Alongside the three-year and five-year fixed rate products, the two-year and 10-year options provide alternative choices for landlords managing interest rate risk.
The new two-year fixed rate has rates starting at 6.69% for complex buy-to-let and 7.24% for commercial. The new product is launched alongside improvements to how Shawbrook stress tests shorter term fixed rates which allows for up to 20% increases in maximum loan sizes when compared to before.
Meanwhile, the new 10-year fixed rate will support investors seeking longer-term security for their investments, with rates starting at 6.39% for complex buy-to-let, and 6.94% for commercial.
In addition, Shawbrook has also repriced some its buy-to-let and commercial Investment products and has made changes to its early repayment charges (ERCs). ERCs for buy-to-let, commercial, and semi-commercial mortgages will now be linked to the fixed rate term rather than the contractual loan term.
Daryl Norkett, head of real estate proposition at Shawbrook, said: “We understand that property investors need options to suit their strategy and it was crucial for us to widen our range of mortgages to meet individual needs.
“These updates reflect feedback from our broker partners, and we’re pleased to have responded promptly by providing them with more options and funding choices for their clients.
“We are continuously striving to deliver innovative solutions that support brokers and their professional landlord clients, especially during this rapidly evolving market.”
