Shawbrook updates pricing and LTV bands on wide range of products

11 March 2014

The Shawbrook Commercial Mortgage division is making banding and pricing changes to a broad range of products to keep them in line with the changing needs of its brokers. In addition to Shawbrook’s recent new products and the existing customer discounts on offer, these changes will help brokers better serve their trading business and property professional clients alike.

Each updated product will now contain more LTV pricing bands in order to increase its flexibility. Moreover, Shawbrook is reducing the rates across every band on each product. The reduction in rates varies from 5bps to 35pbs depending on the product and price banding.

The following products are affected:

Residential Investment Products
• RI1 – Single residential properties
• RI2 – HMOs and student lets
• RI3 – Portfolios of residential properties
• RR1 – Residential refurbishments
Commercial Investment Products
• CI1 – Commercial property/ies – single & portfolios
• CI2 – Semi-commercial property/ies – single & properties
Trading Business Products
• TB1 – Commercial property/ies – single & multiple
• TB2 – Semi-commercial property/ies – single & multiple
• TB3 – Pubs

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

“Our business is built around our broker partners and we aim to be the best at what we do because brokers deserve nothing less. When we realised that 50 per cent of our business was written below 60 per cent LTV we re-evaluated our pricing and decided to introduce more LTV buckets as well as pricing improvements at all LTV levels. We never rest on our laurels and alongside our recent new product launches we want these changes to help brokers attract even more deals.”

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

-Ends-

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:
• Shawbrook Bank is a specialist savings and lending bank which launched in October 2011
• Shawbrook Bank has combined the savings and lending expertise of three financial businesses – Whiteaway Laidlaw Bank (WLB), Link Loans and the lending platform of Commercial First. Link Loans and the lending platform of Commercial First became part of WLB in August 2011 and March 2011 respectively
• Shawbrook acquired Singers Asset Finance in March 2012 to extend its lending offer to SMEs
• For business customers, Shawbrook offers loans secured on property, asset finance and savings products
• For personal customers, Shawbrook offers savings products, secured loans and home improvement loans
• Shawbrook also offers a savings account for charities and trusts
• Visit www.shawbrook.co.uk and find us on Twitter @ShawbrookBank

This press release is for professional intermediaries only and should not be passed to potential clients

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