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.”