"These latest enhancements helps to extend even more support to property professionals, whether that be a seasoned commercial property investor or a Buy-to-Let landlord looking to expand"
- Daryl Norkett - Shawbrook
Shawbrook has revealed key changes to its core commercial mortgage proposition, expanding its range of solutions for borrowers looking to invest in the sector.
With market conditions shifting over the past 12 months, the bank has identified increased demand for investment in commercial property. In response to this demand, Shawbrook has enhanced its commercial and semi-commercial mortgage products including:
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.
Relaxing experience requirements for applications from Buy-to-Let landlords.
In addition to the enhancements, Shawbrook has also implemented a minimum EPC rating of ‘C’ for office properties valued over £2m.
Further revisions of criteria introduced to reflect a more volatile market include streamlined automated decision-making enhanced with referrals on day one for higher LTV deals and adjusting loan terms with interest only available for up to 12 years and capital or part-capital repayment loans for up to 25 years
Daryl Norkett, Head of Real Estate Proposition at Shawbrook says: “Shawbrook is committed to staying at the forefront of the real estate market, and we have been tracking the commercial property market closely. Having monitored the market and our own deal flow over the past few months, we are making changes to respond to the growing demand from professional investors and landlords for commercial property.
"Our seasoned team of property specialists, supported by our expert broker partners, enable Shawbrook to adeptly navigate the complexities of a wide range of real estate financing. These latest enhancements help to extend even more support to property professionals, whether that be a seasoned commercial property investor or a Buy-to-Let landlord looking to expand."
