14:00 PM, 12th February 2013, About 9 years ago
Our preferred commercial finance broker Cliff Verrill reports that Shawbrook Bank are driven by common sense not bureaucracy looking for ways of saying yes to clients and not the often received “computer says no” answer he gets from many lenders.
Shawbrook Bank lend on single investment units, portfolios, multi units, HMO’s and student lets. They lend to both individuals and Ltd Co’s and do not limit the amount of properties that the client can own or the business activities of the limited company.
All their arrangement fees have recently been reduced, along with interest rates in the past couple of weeks with further reductions announced today.
Along with their residential investment products they offer interest only mortgages up to 75% LTV and have a range of Commercial Mortgages and short term loans.
Shawbrook commercial mortgages:
Cover both commercial investment properties and owner occupier trading businesses. Their products go up to 75% LTV and they also offer interest only loans which improves business Cash flow.
Short Term Finance
Shawbrook offer market leading rates on short term finance from 0.65% pm with no exit fees for between 6 and 18 months. This is ideal for auction purchases or a speedy purchase in order to secure a discount.
Short Term Light Refurbishment Finance
Shawbrook will lend up to 70% of the purchase price at 0.73% pm for between 3 and 12 months. This is suitable for clients looking to purchase, or refinance a residential or mixed use property quickly, undertake light refurbishment and then either sell on or hold for rental.
Medium Term Refurbishment Product
They will lend up to 70% of the after works value on an interest only basis. This product is for clients that are purchasing or refinancing property with the intention of completing minor refurbishment before letting the property out.
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