Shawbrook announce changes to Buy-to-Let and Semi-Commercial ranges
Shawbrook has announced a range of changes across its semi-commercial and specialist buy-to-let (BTL) products for complex cases. Specialist BTL loans between £150k and £1m have been re-priced with rates as low as 6.29% now available. BTL loans worth over £1m now start with rates as low as 5.69%.
Shawbrook has also made changes to its semi-commercial offering, with rates on loans over £1m being re-priced from as low as £6.49%.
Alongside the rate reductions, Shawbrook have also announced some criteria enhancements following changes made in Q4 2022. Maximum loan-to-value (LTV) has increased by 5% to 75% on specialist BTL and 70% on semi-commercial deals alongside standard payrate debt service cover ratio calculations for 5 year fixed rate loans.
Daryl Norkett, Head of Real Estate Proposition at Shawbrook, said “Shawbrook has always remained committed to offering competitive rates on our buy-to-let loans and we are delighted to be able to roll out these changes with immediate effect. This follows our recent pricing reductions on our Digital BTL products which now start from 5.39% on a 5-year fix and benefit from automated initial decisioning, AVMs and non-represented legals for refinances. As a trusted partner to brokers we want to ensure we are offering competitive pricing and flexible criteria that allows their professional landlord clients to access the finance they require when they need it.”