Bridging
Shawbrook reintroduces refurb costs bridging product
Shawbrook Bank has reintroduced its lending for refurbishment costs unregulated bridging product which was temporarily withdrawn last year in response to the impact of Covid-19.
It will offer up to 85 per cent loan to value (LTV) on residential buy-to-let properties when lending for refurbishment costs.
The lender noted that it was returning the product as demand and confidence in the bridging market had continued to grow.
Shawbrook Property Finance head of sales Gavin Seaholme said: “Lending for Refurb Costs is a key part of our product offering and one that is well received by our broker community, so we’re really excited to bring it back.
“Demand in the bridging market remains strong, so it’s important that we adapt to support brokers and help them take advantage of the opportunities that are out there.
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“We’re looking forward to supporting the market throughout 2021, with even more positive changes to follow in the coming months.”