Shawbrook adds fixed rate deals and amends ERCs

This includes a two-year fixed rate priced at 6.69 per cent for complex buy-to-let and 7.24 per cent for commercial borrowers. These products will be stressed at the pay rate plus two per cent. 

There is also a 10-year fixed rate which is priced at 6.39 per cent for complex buy-to-let and 6.94 per cent for commercial borrowers. 

Shawbrook has also updated its early repayment charge (ERC) structure so it is now linked to the fixed rate term rather than the contractual loan term. It said this change would offer landlords more flexibility. 

Daryl Norkett, head of real estate proposition at Shawbrook, said: “We understand that property investors need options to suit their strategy and it was crucial for us to widen our range of mortgages to meet individual needs.  

“These updates reflect feedback from our broker partners, and we’re pleased to have responded promptly by providing them with more options and funding choices for their clients. We are continuously striving to deliver innovative solutions that support brokers and their professional landlord clients, especially during this rapidly evolving market.”