Shawbrook has updated its buy-to-let range with the launch of HMO and multi-let unit products.
The product RI0.2 targets small HMO business and sits at 3.49% over LIBOR while RI0.3 is dedicated to multi-let units with rates from 2.99% above three month LIBOR.
Shawbrook’s residential product for single properties called RI0.1 (replacing RI0) is priced at 2.99% over three month LIBOR.
Products carry a maximum interest-only period of 30 years.
Karen Bennett, sales & marketing director for commercial mortgages at Shawbrook, said: “The original ‘RI0’ product for simple residential security was so well received by our broker Partners in 2015, we saw a great opportunity to grow this part of the offering.
“We hope to provide brokers with more momentum using complementary & competitively priced products that allow a more targeted approach.”
“Our teams are committed to delivering on the new SLAs for the new RI0 range, and our transparent approach to this will continue as we firmly believe that shining a light on our own performance is the only way to improve.”