Shawbrook
, the specialist UK savings and lending bank, has recently made a number of amendments to its lending criteria to be implemented with immediate effect.
Changes include the reintroduction of its heavy refurbishment products at up to 75 per cent loan-to-value (LVT), and a reinstatement of its pre-COVID-19 development exit criteria.
The lender is also withdrawing the supplementary assessments previously required for buy-to-let and bridging loans over 65 per cent loan-to-value.
The buy-to-let (BTL) debt service overage ratio will also be revised to 140 per cent for individual applicants.
Additionally, the bank have resumed the full eAIP application service, meaning that approvals made via the system will no longer need underwriter verification.
In a note specifically for brokers, Shawbrook adds that all loans still remain available at a maximum of 75 per cent, and that all commercial investment loans over 65 per cent LTV need secondary assessment.