Shawbrook reduces rates and expands offering on commercial products

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  • 09/06/2016
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Shawbrook reduces rates and expands offering on commercial products
Shawbrook Commercial Mortgages has reduced rates and extended its interest-only offering across a range of products, along with making deals available to expat clients.

The enhancements have been made for loans worth a maximum of £10m and include rate reductions of up to 0.65% on 75% loan-to-value (LTV) semi-commercial products.

Changes have also been made to LTV levels, including an increase on large commercial loans from 65% to 70%.

The lender has also improved the availability of interest-only options on its commercial and semi-commercial range, now available up to 70% LTV from 65% on both commercial and large commercial products.

Karen Bennett, sales and marketing director for Shawbrook Commercial, said a “great deal of research and thought” had gone into making the changes.

“It’s been a challenging yet rewarding period for all Shawbrook teams, with these enhancements to commercial and semi-commercial following recent updates to our short term criteria,” she said.

Shawbrook has also opened up its offering to expat clients, who can borrow against commercial assets providing they meet the bank’s existing expat criteria. It said this is likely to attract more attention from investors looking to distribute their risk across different assets, rather than focusing on a purely residential portfolio.

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