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Shawbrook slashes complex BTL deal rates

  • 17/04/2024
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Shawbrook slashes complex BTL deal rates
Specialist lender Shawbrook has reduced rates across its complex and limited edition buy-to-let ranges by up to 0.3%.

On the complex buy-to-let side, loans between £1m and £5m will be priced at 6.34% for five and 10-year fixed rates at 65% loan to value (LTV) and at 75% the rate stands at 6.44%.

Three-year fixed rates have fallen to 6.49% at 65% LTV and 6.59% at 75% LTV, with two-year fixed rates coming to 6.54% at 65% LTV and 6.64% at 75% LTV.

Cuts have also been made to its limited edition buy-to-let range, with loans between £1m and £5m across two and five-year terms being cut, and five-year fixed rates lowered to 5.84% at 65% LTV and 5.94% at 75% LTV.

Two-year fixed rates have been lowered to 5.44% at 65% LTV and 5.54% at 70% LTV, which is the maximum LTV available on this term.

Daryl Norkett, director of real estate proposition at Shawbrook, said: “At Shawbrook we have always been committed to delivering competitive rates on our buy-to-let products. These latest pricing reductions demonstrate our strong appetite to support brokers and professional landlords with a wide choice of lending products.

“Customers are now able to benefit across two, three, five and 10-year fixed rates which have been reduced by as much as 30 bps. As a trusted partner to brokers, we pride ourselves on offering competitive, flexible financing to support our professional landlord clients as and when they need it.”

Earlier this year, the firm said that it would bring back top slicing so client’s additional income can be considered in their affordability assessment, which means borrowers can access larger loan sizes than they could if they just solely used rental income.

At the same time, the lender also removed the need for previous landlord experience for small houses in multiple occupation (HMO) applications.

The company’s loan book also reported strong growth in 2023, rising by nearly a quarter year-on-year to £13.3bn according to its latest financial results.

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