Sunday, October 1, 2023
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Shawbrook has announced key changes to its core commercial mortgage proposition. Having observed shifting market conditions over the past 12 months, Shawbrook has identified increased demand for investment in commercial property. In response to this demand, the bank is enhancing its products.
Key enhancements include – reducing the minimum loan size to £250,000; reduction of rates across the offering by 10bps; increasing the maximum LTV by 5% on semi-commercial products to 75% and commercial products to 65%; re-introducing retail assets as acceptable security; and relaxing experience requirements for applications from buy-to-let landlords.
Shawbrook head of real estate proposition Daryl Norkett says, “Having monitored the market and our own deal flow over the past few months, we are making changes to respond to growing demand from professional investors and landlords for commercial property”.
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