Shawbrook cuts BTL offering to three products

The lender cut its range down from 10 to seven products in November as part of a wider overhaul and has now taken this further.

The remaining products are Single BTL, Complex BTL and Large HMO, with interest rates adjusted accordingly and starting from 3.25 per cent.

Single BTL has been designed with property investors looking to borrow under £750,000 in mind, Shawbrook said.

Those looking to borrow more, or for portfolios and small houses in multiple occupation (HMOs), fit into the Complex BTL product.

Any borrowers looking to purchase or refinance a HMO with seven or more occupants will be able to use the Large HMO product.

Online application

Shawbrook has also launched a buy-to-let online application form which is available for all BTL and HMO applications that have received an Indicative Mortgage.

It will pull through information that has already been provided by the broker during the initial stages, removing the need to re-key this data when progressing the case.

An autosave feature has also been built in and once completed, the broker will receive a PDF copy of the application for their records.

Emma Cox, sales director – property division at Shawbrook Bank (pictured), said: “It’s crucial to ensure complete clarity for the broker community when it comes to one’s products, and we feel this simplification really ticks that box to make us even easier to do business with.”