Shawbrook Bank has announced a series of changes to its buy-to-let (BTL) and house in multiple occupation (HMO) range.
As part of the changes, Shawbrook has introduced three new product bandings based on loan size, including loans over £1m, loans between £150,000 and £1m, and loans less than £150,000.
The changes impact all of Shawbrook’s BTL and HMO products.
While continuing to support customers with loans from £40,000, rates on large loans over £1m have been reduced and will now start from 4.14% on buy-to-lets and HMOs at 65% LTV.
Gavin Seaholme, head of sales at Shawbrook Bank’s property finance division, said: “These changes underline Shawbrook’s continued commitment to supporting the simple, the complex, and everything in between.
“Our team have a wealth of experience lending on commercial and residential developments, in even the most complex of situations and work hard to serve customers at both ends of the market.
“By offering competitive rates across all loan sizes we can make our expertise and knowledge of the market accessible to as many people as possible.”