Shawbrook has made a series of reductions across its complex and limited edition buy-to-let (BTL) products, with some reduced by as much as 30 bps.
As part of the complex BTL product repricing, loans between £1m and £5m now feature a reduced rate of 6.34% for both five and 10-year fixed loans at 65% loan to value (LTV), and a 30 bps reduction to 6.44% for 75% LTV. Three-year fixed rates have dropped to 6.49% at 65% LTV and 6.59% at 75% LTV, whereas two-year fixed loans have been reduced to 6.54% at 65% LTV and 6.64% at 75% LTV.
In addition to these changes, cuts have been made to the limited edition complex BTL product. The changes also apply to loans between £1m and £5m across two and five-year terms, with five-year fixed-term loans reduced to 5.84% at 65% LTV, and 5.94% at 75% LTV. Two-year fixed-term rates have been lowered to 5.44% at 65% LTV and 5.54% at 70% LTV (the max LTV available for a two-year fixed-term loan).
Daryl Norkett (pictured), director of real estate proposition at Shawbrook, said: “At Shawbrook we have always been committed to delivering competitive rates on our buy-to-let products. These latest pricing reductions demonstrate our strong appetite to support brokers and professional landlords with a wide choice of lending products.
“Customers are now able to benefit across two, three, five and 10-year fixed rates which have been reduced by as much as 30bps. As a trusted partner to brokers, we pride ourselves on offering competitive, flexible financing to support our professional landlord clients as and when they need it.”