Shawbrook has unveiled two mortgage products for its buy-to-let, commercial, and semi-commercial ranges – including a 2-year fixed rate mortgage and a 10-year fixed rate mortgage.
Its 2-year fixed rates start at 6.69% for complex buy-to-let and 7.24% for commercial.
Shawbrook has altered how it stress tests shorter term fixed rates, allowing for up to 20% increases in maximum loan sizes.
Meanwhile, the new 10-year fixed rate has rates starting at 6.39% for complex buy-to-let, and 6.94% for commercial.
Daryl Norkett, head of real estate proposition at Shawbrook, said: “We understand that property investors need options to suit their strategy and it was crucial for us to widen our range of mortgages to meet individual needs.
“These updates reflect feedback from our broker partners, and we’re pleased to have responded promptly by providing them with more options and funding choices for their clients.
“We are continuously striving to deliver innovative solutions that support brokers and their professional landlord clients, especially during this rapidly evolving market.”
Alongside the introduction of fixed rates, Shawbrook has repriced some its buy-to-let and commercial investment products and has made changes to its early repayment charges.
ERCs for buy-to-let, commercial, and semi-commercial mortgages will now be linked to the fixed rate term rather than the contractual loan term.
