The lender told Specialist Lending Solutions it was still “very much open for business” in the sector but that it was considering how it could reflect its risk appetite and desire to be part of the specialist market.
It added that it was now concentrating on telling brokers the areas it was happy to work in and those it was not.
Shawbrook Bank group head of marketing and communications Richard Armstrong said that the regulator’s reflections on the whole second charge market prompted the move.
“We are very much still open for business in that sector, it’s very important to us,” he said.
“We have a strong relationship with the regulator, we have an open dialogue with them and we are as helpful as we possibly can be. But equally we reflect the markets we are dealing with.
“A specialist lender is set up to have its own risk appetite and we’ve just got to make sure we are comfortable with that, and that it reflects the regulation.
Shawbrook also categorically denied that the board changes made last week were linked to the FCA review.