Shawbrook Bank has made a raft of rate and criteria changes to its refurbishment range.
The pricing has been reduced on “Residential Refurbishment” RR1 & RR2 by between 0.20% and 0.35% for professional investors and landlords.
In addition, Shawbrook is willing to be flexible on its historic restriction of 15% where works are to be completed to a higher specification across the project.
On service, all these changes will sit within a reduced service level agreement (SLA) framework of 48hrs.
Karen Bennett, sales and marketing director, commercial mortgages, said: “It is testament to the hard work of the Shawbrook teams and the close relationship we have with our broker partners that we have been able to take on board feedback, and deliver such a significant series of improvements to elements of the residential product suite in January.
“In such a fast paced market it is imperative to keep improving, keep being transparent, and keep encouraging feedback – both positive and negative – so that we are able to make changes that help deliver good outcomes for the borrower, and help us stay at the forefront of a highly competitive space. This latest series of enhancements reflect that appetite and I am pleased to confirm that we have more of the same planned for Q1.”
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
