Shawbrook launches new commercial fixed rates and enhances stress tests

Shawbrook has launched two new mortgage products for its buy-to-let, commercial, and semi-commercial ranges.

The offerings include a new two-year fixed rate and 10-year fixed rate mortgage to complement the lender's current three and five-year fixed rate products.

The new two-year fixed rate starts at 6.69% for complex buy-to-let and 7.24% for commercial. The new product is launched alongside improvements to how Shawbrook stress tests shorter term fixed rates which allows for up to 20% increases in maximum loan sizes when compared to before.

Meanwhile, the new 10-year fixed rate starts at 6.39% for complex buy-to-let and 6.94% for commercial.

Alongside the introduction of the new fixed rates, Shawbrook has also repriced selected buy-to-let and commercial investment products and has made changes to its early repayment charges. ERCs for buy-to-let, commercial, and semi-commercial mortgages will now be linked to the fixed rate term rather than the contractual loan term, offering more flexibility to landlords considering funding options.

Daryl Norkett, head of real estate proposition at Shawbrook, commented: "We understand that property investors need options to suit their strategy and it was crucial for us to widen our range of mortgages to meet individual needs. These updates reflect feedback from our broker partners, and we're pleased to have responded promptly by providing them with more options and funding choices for their clients.

"We are continuously striving to deliver innovative solutions that support brokers and their professional landlord clients, especially during this rapidly evolving market.”