Shawbrook reduce interest rates and arrangement fees

Shawbrook reduce interest rates and arrangement fees

15:55 PM, 14th January 2016, About 7 years ago

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With the proposed increase in stamp duty (additional 3%), restriction of tax relief on interest payments and changes to the wear & tear allowance; 2016 has never been a more important time to have your portfolio professionally reviewed.shawbrook

Whether it be via moving your property into a limited company structure, making new purchases before the impending changes on stamp duty take effect, or simply taking advantage of lower product interest rates; Shawbrook Bank have now reduced interest rates and arrangements fees and improved their criteria on a number of products

Key product highlights:
• Up to 30yr interest only period
• Reduced arrangement fees to 1.25%
• Existing customer discount still available
• New DSCR calculation – one simple structure

Key Product Features:

RI0.1 for simple residential properties, flats or houses

• From 2.99% above 3m LIBOR
• Let to single households, private tenants
• Rental income must fully cover DSCR

RI0.2 for HMOs

• From 3.49% above 3m LIBOR
• Small HMOs – up to 6 beds
• Let to private tenants and students

RI0.3 for Multi-units

• From 2.99% above 3m LIBOR
• Freehold block of up to 4 flats on one freehold title
• Let to single households, private tenants
• Property does not require any works prior to tenancy

Brooklands Commercial Finance offers readers a free, no obligation review for landlords. Please complete the form below if you need any assistance with property finance of any type.

Contact Malcolm Jones

Commercial Finance, Development Funding and Bridging Finance
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