Shawbrook cuts large loan bridging rates
Shawbrook has reduced rates across its unregulated bridging offering, with rates now starting from 0.40% per month, down from 0.50%.
The changes impact the specialist lender’s bridging proposition on loans over £1m across residential, semi-commercial, commercial, and heavy refurbishment products.
The rates apply to loans to value of up to 85%. Shawbrook’s unregulated bridging range caters for loans from £50k to £15m.
Rates on the lenders regulated bridging products remains the same. Changes to Shawbrook’s bridging product range follows a recent reprice across its commercial offering.
Gavin Seaholme, head of bridging and second charge, commented: “At Shawbrook we are committed to providing a competitive bridging proposition. The recent restructuring of the real estate team to establish a focused bridging and second charge team highlights this long term dedication to help our brokers provide more choice to customers. Our rates are coupled with a strong expertise and understanding of the bridging market and wider property landscape.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
This week's biggest stories:
Santander
Santander to acquire TSB in £2.65bn deal
Bank Of England
Bank of England issues first-of-its-kind fine of £11.9m
Regulation
Lenders urged to prepare for court ruling on commissions as motor finance complaints surge
Financial Conduct Authority
FCA moves ahead with targeted support in 'transformational' advice reforms
Mortgages
FCA and PRA remove 15% LTI cap for mortgage lenders
GDP
August rate cut likely as GDP falls for second consecutive month
