Shawbrook Bank has unveiled a new product feature for existing clients on all new applications.
Clients who have been party to a completed loan with Shawbrook can take advantage of either a discount on the margin or a reduction in the arrangement fee on their next loan.
The exact discount will vary across products and the client can choose the discount that best suits their needs.
Details of the discount:
STLs
- 0.25 percentage point discount on the margin or a 0.25 percentage point reduction in the arrangement fee for clients who have been party to a completed loan with Shawbrook.
Term loans up to £1,000,000
- 0.25 percentage point discount on the margin or a 0.25 percentage point reduction in the arrangement fee for clients who have been party to a completed loan with Shawbrook.
Term loans over £1,000,000
- 0.15 percentage point discount on the margin or a 0.25 percentage point reduction in the arrangement fee for clients who have been party to a completed loan with Shawbrook.
Any new application submitted from today will be eligible for this new feature, provided that the client has been party to a completed loan with Shawbrook at the time of the new application (even if that existing loan has subsequently been redeemed). The discount will not be available on simultaneous applications submitted where the client has not already completed on a loan with Shawbrook or on applications currently in the pipeline.
Karen Bennett, sales and marketing director, commercial mortgages, Shawbrook Bank, said: “As a bank which doesn’t compete with our brokers by selling directly to clients, we are always looking for ways to add innovation to our product design that give the brokers the opportunity to drive more business.
“This discount is not a year-end gimmick to drive our volumes – it’s a genuine feature change that we hope will increase brokers’ repeat business from their customers.”
