Shawbrook reduces large loan prices
Single dwelling/portfolio (LRI3) rates stand at 3.70% to 65% loan-to-value and 3.90% to 75% LTV, HMO/student let (LRI2) rates stand at 3.80% to 65% LTV and 3.99% to 75% LTV, its commercial (LCI1) rate stands at 5.85% to 65% LTV and semi-commercial (LCI2) stands at 4.80% to 65% LTV and 4.95% to 70% LTV.
Karen Bennett, sales & marketing director for Shawbrook commercial, said: “The maturity of our Large Loan proposition led to the desire to increase our competitive edge on pricing and allow brokers to offer even more for their clients.
“During the assessment process it became clear that the best option was to remove the mixed portfolio large loan product (LCI3), as our brokers expressed a clear preference to transact solely across either residential or commercial assets.”
“We are constantly reviewing our offering to see where we can make improvements and I am delighted that we have been able to make this reduction. When coupled with our on-going commitment to service, I am confident that this product initiative will be well received by the market and look forward to its impact.”
Shawbrook said it consulted with brokers, suppliers and senior management before making rate changes.
Julie Griggs, director for Commercial Processing Centre, added: “As a master broker, it is crucial to have lenders on our panel that continually strive to improve their product range.
“Commercial Processing Centre (CPC) has worked with Shawbrook for many years and we have always found this to be the case.
“The new product enhancements make this offering even more competitive and also demonstrate how Shawbrook look to deliver good customer outcomes at all times.”