Big advantages Shawbrook have over many other commercial lenders is their desire to lend with far less onerous stress testing compared to high street banks, Interest Only for commercial and BTL property and lending directly to Limited companies.
Malcolm Jones of Brooklands commercial finance said ” Shawbrook are specialists in good sense not using a tick box appraoch and allow me direct access to discuss cases with underwriters. This is invaluable when trying to get cases through for clients and they also have excellent turn around times.”
Details of products criteria and costs are below:
• Rates reduced by up to 0.35% on semi commercial products. These now start from 5.20% above 3 month LIBOR and the clients still have 3, 5 & 10 year interest only options up to 70% LTV
• Arrangement fee reduced by 0.80% to 1.70%. Added to the loan (outside of max LTV)
3 and 5 year refurbishment:
• Margin reduced by 0.50%, now just 4.95% above 3month LIBOR
• Lending against the after-works value – releasing capital for the next project
• Arrangement fees reduced to 1.70%. Shawbrook’s arrangement fees are also added to the loan (outside of max LTV)
• Rates reduced by up to 0.60%. Rates start from 4.75% above 3 month LIBOR. At 75% LTV rates are just 4.95% above 3 month LIBOR
• Aggregate values now used for up to 5 units in a block
• Shawbrook are open for lending up to £10m to any one client
• Arrangement fees reduced to 1.70%. Added to the loan (outside of max LTV)
If you would like to add your own requirements and search for the most popular available Buy to Let products please click here
About Neil Patterson
Neil's career began in banking in 1990. He has also managed a building society branch and worked in business development. He became an Associate Partner of The Money Centre in 2003 and subsequently took on the role of Head of Operations which included training, quality control, project management and compliance. Neil has been a Partner of Property118.com since day one, responsible for operational management which includes, amongst many other things, updating the buy to let mortgage sourcing calculator and quote engine.