Shawbrook Bank has made a number of changes across its commercial lending product range.
Residential Investment changes include:
- Arrangement fees reduced on all term products to 1.70%. Shawbrook’s arrangement fees are also added to the loan (outside of max LTV)
- Rates reduced by up to 0.60% on all Residential Investment Products. These start from 4.75% above 3 month LIBOR and the 75% LTV Product is now just 4.95% above 3 month LIBOR
- Aggregate values now used for up to 5 units in a block
- Shawbrook will now accept business up to £10m on Residential Products
Commercial Investment enhancements include:
- Rates reduced by up to 0.35bps on Semi Commercial Products. These now start from 5.20% above 3 month LIBOR up to 70% LTV
- Arrangement fee reduced by 0.80bps to 1.70%
Medium Term Refurbishment change:
Margin reduced by 0.50bps, now 4.95% above 3 month LIBOR.
Karen Bennett, head of sales and marketing, commercial mortgages, Shawbrook Bank, said: “We want to make Shawbrook the lender to follow in 2013, and we introduced these exciting improvements as a sign of our intent.
“Brokers are at the heart of our business and we value the strong relationships we share. There is more good news to follow, so watch this space.”