Shawbrook extends second charge maximum loans

The changes have been made on the 75 per cent and 85 per cent loan to value (LTV) bands.

At 85 per cent LTV the maximum loan size has increased from £100,000 to £150,000, while at 75 per cent LTV the limit has more than doubled from £200,000 to £500,000.

Shawbrook property finance head of sales Gavin Seaholme (pictured) said: “This is just another step in our ongoing product innovation plans for 2021.

“We are committed to supporting the second charge market and want to give our brokers a wider choice when it comes to assisting clients with larger funding requirements.”