Shawbrook overhauls short-term product offering

Ryan Bembridge

March 16, 2017

Shawbrook commercial has overhauled its short-term range with three LTV brackets and rate reductions.

The lender now has LTV brackets at 50% loan-to-value, 65% LTV and 75% LTV, though its STL 3, 8 and 9 products have a max LTV of 70% LTV.

Its STL1 residential product range has been reduced by up to 1.68%, its STL2 semi-commercial up to 0.24% and its STL3 commercial up to 0.48%.

Meanwhile for heavy refurb STL6 single residential product is reduced by up to 1.44%, STL7 mult-units and HMOs 1.56%, STL8 semi-commercial 0.72% and STL9 commercial 0.72%.

For light refurbishment its STL4 residential range is seeing reductions up to 0.96% and its STL5 semi-commercial up to 0.48%.

Emma Cox, sales director of Shawbrook Commercial Mortgages, said: “Our appetite for lending in this space is undiminished, with a strong desire to provide pragmatic short-term solutions for our brokers’ clients.

“These products are more keenly priced than ever before whilst the simplification of our LTV buckets ensures maximum clarity for our intermediary partners – vital in cutting through the noise of a competitive lending environment.

“I would remind brokers that the spring fling will continue until the end of March and that there are further client-focused initiatives on the horizon.”

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