Mortgage News
Shawbrook Bank to launch fixed rate commercial products
Shawbrook Bank has announced it will offer fixed rate commercial mortgage products from July in response to broker demand.
The lender said it would launch products which complement its existing range of tracker products.
It said the decision had been made following feedback from brokers which stated clients were looking to lock in for a fixed period to avoid increasing interest rates in future.
Shawbrook said it was currently testing its fixed rate proposition and would look to offer products fixed for up to five years.
Karen Bennett, sales and marketing director at Shawbrook Bank said: “We’re excited that we’ll soon be able to offer fixed rate options to our brokers and their clients. No booking fees are payable for the fixed rates and we understand the importance of clarity of price for the clients; this will be reflected within the process when launched.
“We feel the addition of a fixed rate period across all our products further strengthens our range of solutions for property professionals and SME clients.”
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