Shawbrook launches Switch & Fix process for existing customers

Shawbrook has introduced ‘Switch & Fix’, a streamlined refinance process to help existing borrowers switch from an expiring fixed rate to a new loan.

Switch & Fix reduces the need for new documentation, and, in many cases, a valuation and solicitors’ instruction is not needed.

The process is available to existing buy-to-let and commercial investment customers where the contractual loan term, borrower details, security properties and loan amount remain unchanged.

Switch & Fix forms part of a suite of options for existing customers, including product switch, the process for end of term extensions, and Shawbrook refinances, for when customers want to make changes to the deal or raise capital. All these options come with a 1% reduction on the standard arrangement fee for existing customers.

Daryl Norkett, director of real estate proposition at Shawbrook, commented: “Switch & Fix underscores our commitment to making the refinancing process as seamless as possible for our customers and their brokers.

"In a volatile market, selecting a new fixed rate has never been more critical. We’ve designed Switch & Fix to help customers secure new rates, including on more complex loans and commercial mortgages, while minimising costs and friction. We are excited to see our customers take advantage of this new offering and look forward to supporting their future growth.”