Shawbrook Bank has increased its interest only options across all property types.
This move follows feedback from its network of brokers and intermediaries.
The lender has increased the interest only LTV on residential property to 75% and the LTV on semi-commercial property to 70%.
Shawbrook has also removed the 0.25% loading on its 10 year interest only term, following specific requests from brokers.
All changes will take effect from Monday 3 December, and will also apply to any cases which are currently being worked on by Shawbrook.
Karen Bennett, head of sales, commercial mortgages, Shawbrook Bank, said: “We are very responsive to our brokers and intermediaries, and the latest changes to our interest only product range come as a result of their feedback. Brokers lie at the heart of Shawbrook’s business, so we take the time to listen to their views on our products and service.
“This doesn’t just happen via the occasional feedback form. We’ve invested in excellent regional development managers supported by a highly experienced internal sales team who work closely with brokers – not only to help shape deals but also to listen to their input and guidance.
“Shawbrook has ambitious growth plans for 2013 and beyond, and we will continue to work closely with our brokers to ensure we are offering products and processes which really work for them.”
