The specialist lender has also taken the opportunity to simplify its proposition by introducing 3 LTV tiers that are now consistent across all Specialist BTL and Commercial products. This new pricing is available as of Monday 19th December. At the same time the Bank is also revising the affordability criteria, in line with the supervisory statement SS13/16, as it introduces separate coverage ratios for individual and corporate borrowers.
Shawbrook’s panel of Broker Partners will be able to submit applications under the existing criteria until Friday 16th December.
Karen Bennett, Managing Director of Shawbrook Commercial Mortgages was keen to discuss the benefits for brokers’ clients:
“We are always looking for innovative ways to enhance our products and the service we provide to our brokers and their clients. The extensive price reductions soon to be live across our Specialist BTL and Commercial product sets are a practical example of this dedication to good customer outcomes, and part of the latest in a long line of improvements we have made in 2016.
“We are confident that these rate reductions provide a timely boost to brokers and their clients and, whilst the BTL market faces headwinds in 2017, we look forward to continuing to support our partners with a considered and sustainable lending approach.”
