Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has repriced rates across its range of bridging products, with rates now available from 0.5%.
This applies to both regulated and unregulated products, though the largest cut is to regulated transactions. These cuts include heavy refurbishment on buy-to-let and semi-commercial properties up to 75% LTV.
Shawbrook has also standardised LTV bands across its range, to support the bridging market moving into the new year as customers try to complete transactions before the end of the current stamp duty holiday.
Darrell Walker, head of product development and proposition, said: “We’re delighted to bring these positive changes to market and show our continued appetite to support brokers across the specialist arena.
“Having remained open for business throughout the Covid-19 pandemic, we head towards 2021 with buoyancy and confidence. The bridging market demands experienced underwriting, understanding of individual needs and a willingness to get things done, and I’m delighted to say that we tick all three boxes.”
Original article featured here…