Shawbrook cuts bridging rates

Sam Cordon

February 12, 2013

Karen Bennett, head of sales and marketing of commercial mortgages, said: “We are striving to make Shawbrook the lender to follow in 2013. These changes demonstrate just how serious we are about becoming a major player in the short-term loan market for property professionals.”

The changes are available to all broker partners with no additional fees for the client and no commission compromises for brokers.

The key changes to the range include rate reductions at 60% and 70% loan to value at 0.65% and 0.69% respectively while a 0.73% reduction applies to refurbishment bridges up to 70% LTV.

Bennett added: “Brokers are at the heart of Shawbrook’s business and we appreciate the hard work they do to complete deals. The change to the minimum term was in direct response to feedback from brokers active in the bridging market. We also understand the need for transparency in bridging on pricing, fees and commissions and are committed to always delivering this.”

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