The new rates are 0.60% per month at 50% LTV, 0.70% at up to 60% LTV and 0.80% at up to 70% LTV.
These rate reductions have brought the products in line with Shawbrook’s current residential heavy refurbishment pricing.
Emma Cox, head of sales at Shawbrook Bank, said: “The bridging market is a core part of our proposition and we are delighted to support our brokers and their clients with this pricing improvement.
“We are in constant dialogue with our broker partners about what is important to them in this space, and our product improvement programme demonstrates our commitment to feedback-based change, not only around price, but also in terms of flexibility, service, communication and ease of application — all of which are fundamental to supporting positive customer outcomes.”
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Shawbrook recently strengthened its Business Corporate Lending team with three new starters; James Hogan as director, Paul Miller as an associate director and Fahim Rahman as an analyst.