Precise relaunches refurb BTL deals; Shawbrook updates BTL and semi-commercial ranges – round-up

The range allows landlords to make renovations to maintain properties and offers an additional incentive if the energy efficiency rating is improved. 

There are three exit solutions which offer rate incentives based on the type of refurbishment work being done. 

The range includes a standard refurbishment product to make a property habitable such as installing a new kitchen or bathroom. Rates in this range begin from 5.79 per cent. 

The energy efficiency refurbishment deal is for works which include some element of energy efficiency improvement such as installing a new boiler or double glazing windows. These rates start from 5.69 per cent. 

There is also the EPC C+ refurbishment product which is for a property which already has an EPC rating of C or above, or is given a C rating once work is complete. Pricing begins from 5.59 per cent 

Adrian Moloney, group intermediary director at OSB Group, said: “As the cost of living crisis continues to impact, it’s crucial for specialist lenders such as Precise Mortgages to support with solutions that could help improve living standards within existing housing stock as well as help reduce energy costs.” 

“Although we are waiting on a clear steer regarding EPC ratings from the government, we do know that it’s likely we’ll see further impact to the rental sector around energy efficiency.  

“It’s important for us as a leading specialist lender to support brokers and their clients with products that can assist with financing these improvements.” 

Shawbrook revises range 

Shawbrook has made changes to its buy-to-let and semi-commercial mortgages. 

These have been made alongside rate cuts, which now means specialist buy-to-let loans between £150,000 and £1m start from 6.29 per cent and buy-to-let loans over £1m begin from 5.69 per cent. 

Pricing on the semi-commercial range begins at 6.49 per cent for loans over £1m. 

The maximum loan to value (LTV) available on specialist buy-to-let loans has been increased from 70 to 75 per cent, while for semi-commercial mortgages this has been raised from 65 to 70 per cent. 

Daryl Norkett, head of real estate proposition at Shawbrook, said “Shawbrook has always remained committed to offering competitive rates on our buy-to-let loans and we are delighted to be able to roll out these changes with immediate effect.”