Shawbrook meets demand for larger loans with suite of new products

06 March 2014

Shawbrook’s Commercial Mortgages division is launching a dedicated range of larger loans products. Responding to demand driven by the flourishing buy-to-let market, the new range is intended to support brokers whose clients may be looking to release capital from, refurbish or purchase high value single or multiple properties.

The loans will range from £750,000 to £10,000,000, although loans in excess of this amount can also be considered. The range will be priced from 4.20% above 3 month Libor on residential properties and from 5.10% above 3 month Libor on loans containing a commercial element for all customers, whether new or existing. This drop in price reflects Shawbrook’s appetite for this business.

The range will consist of:

• LRI1 – Single residential properties
• LRI2 – HMOs
• LRI3 – Residential portfolios
• LCI1 – Commercial properties (both single properties and portfolios)
• LCI2 – Semi-commercial properties (both single properties and portfolios)
• LCI3 – Mixed Portfolios (portfolios where a minimum 70% are residential based on value)

Karen Bennett, Sales & Marketing Director, Commercial Mortgages, Shawbrook Bank:

“With the improving economy, our brokers are increasingly dealing with clients who want to have the flexibility of obtaining finance in relation to high value or multiple properties. We have had some great success in this area, and wanted to ensure all our brokers know that we have a strong appetite for this type of business. As these types of loans often have more specialist requirements, we decided to create dedicated products.”

A recent deal enabled a client to secure a £2.5 million loan secured against a freehold block of 21 flats in London. Another client was able to refinance a portfolio of 12 leasehold flats and an HMO on a like for like basis.

For further information please visit www.shawbrook.co.uk

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For further press information and interviews with Shawbrook spokespeople please contact:
• Georgina Miller on 020 7812 0606 / Georgina@standagency.com or Molly Stein Davies on 020 7812 0606 / molly@standagency.com

Notes to editors:
About Shawbrook Bank:
• The Broker Barometer questioned 54 of Shawbrook’s Commercial Mortgage Brokers in October 2013
• Shawbrook Bank is a specialist savings and lending bank which launched in October 2011. In March 2012 Shawbrook acquired Singers Asset Finance to extend its lending offer to SMEs
• Strategic Partners (SP's) which are recognised as being our higher performers; this is judged on conversion quality, activity and area of specialism.
• For business customers, Shawbrook offers loans secured on property, asset finance and savings products
• For personal customers, Shawbrook offers a range of competitive savings products, secured loans and unsecured home improvement loans
• Shawbrook also offers a savings account for charities and trusts
• In August 2012 Shawbrook announced it had broken even less than a year since it launched
• Visit www.shawbrook.co.uk and follow us on Twitter @ShawbrookBank

Molly Stein Davies

Find: Stand Agency, 175-185 Gray's Inn Road, London WC1X 8UE
Call: +44 (0)207 812 0606
Email: molly@standagency.com
Follow: @standsays