Shawbrook Bank slash arrangement fees and rates

by Neil Patterson

5 years ago

Shawbrook Bank slash arrangement fees and rates

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Shawbrook Bank slash arrangement fees and rates

Shawbrook Bank specialists in commercial and BTL finance have reduced their arrangement fees to 1.70% a saving of 0.80%, and their rates by up to 0.60% across their term product range.

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:

Commercial investment:
• 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

Residential investment:
• 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

Trading businesses
• Arrangement fees reduced to 1.70%. Added to the loan (outside of max LTV)

To discuss any commercial deal please call us on 01603 489118 or email info@property118.com

For Development finance please click here.

For Commercial mortgages please click here.

For Bridging finance please click here.

If you would like to add your own requirements and search for the most popular available Buy to Let products please click here

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Comments

Bill Morgan

3 years ago

When it comes to commercial property loans what is the typical turnaround time for shawbrook?

What fantastic news from Shawbrook who are a very active lender in the market place with a huge appetite to lend. Their systems are great and the staffing levels have just increased to cope with demand, which in itself says a lot about Shawbrook as other lenders seem to be cutting back.

It is difficult to provide an exact turnaround time for Shawbrook as outside influences, such as access to property for valuation can create unnecessary delay.

Shawbrook with a perfectly packaged application and no outside issues would be disappointed not to have issued formal loan papers within 14 days and then it is down to the relevant other parties to complete the transaction

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