Shawbrook Bank’s commercial mortgage division has made banding and pricing changes to a range of products.
Each updated product will now contain more LTV pricing bands and Shawbrook is reducing the rates across every band on each product. The reduction in rates varies from 5bps to 35pbs depending on the product and price banding.
The following products are affected:
Residential Investment Products
- RI1 – Single residential properties
- RI2 – HMOs and student lets
- RI3 – Portfolios of residential properties
- RR1 – Residential refurbishments
Commercial Investment Products
- CI1 – Commercial property/ies – single & portfolios
- CI2 – Semi-commercial property/ies – single & properties
- Trading Business Products
- TB1 – Commercial property/ies – single & multiple
- TB2 – Semi-commercial property/ies – single & multiple
- TB3 – Pubs
Karen Bennett (pictured), sales and marketing director for commercial mortgages at Shawbrook Bank, said: “Our business is built around our broker partners and we aim to be the best at what we do because brokers deserve nothing less.
When we realised that 50% of our business was written below 60% LTV we re-evaluated our pricing and decided to introduce more LTV buckets as well as pricing improvements at all LTV levels.
“We never rest on our laurels and alongside our recent new product launches we want these changes to help brokers attract even more deals.”