Shawbrook Bank has made changes to its buy-to-let product range and criteria across all LTV bandings.
Rates have been reduced by up to 0.49 percentage points and made changes to its criteria with the aim of improving its buy-to-let offering.
Two new products to the range for buy-to-let and HMO loans under £100,000. Shawbrook says this can provide greater financing options for property investors who may not require a large amount of funds to complete a purchase.
Shawbrook has also published its full buy-to-let criteria guide. Other criteria improvements include three to 30-year terms, an existing customer discount on the arrangement fee of 0.25 percentage points across all buy-to-let products including large loans and a simplified commission rate across the buy-to-let offering.
The lender has also reduced the size of its product guide by 75%, retiring several product ranges and combining others under simpler brackets.
Emma Cox (pictured), sales director – property division at Shawbrook Bank, said: “With the many changes to the buy-to-let market over the past few years, Shawbrook saw a great opportunity to continue to improve on our offering to better support customers seeking specialist buy to let solutions.
“We wanted to make our product range as transparent as possible to our brokers and we believe that this is a huge step in the right direction.”
