Shawbrook Bank enhances bridging range
Shawbrook has revised pricing across regulated and unregulated bridging products, with rates now starting at 0.5%.
"The bridging market demands experienced underwriting, understanding of individual needs and a willingness to get things done, and I’m delighted to say that we tick all three boxes."
The most significant rate cuts apply to regulated transactions, but many unregulated rates are also reduced, including heavy refurbishment on buy-to-let and semi-commercial properties up to 75% LTV.
In addition to rate reductions, LTV bands have been standardised across the range as Shawbrook seeks to further support the bridging market moving into 2021, in particular customers looking to take advantage of the stamp duty holiday.
Darrell Walker, head of product development and proposition, said: “We’re delighted to bring these positive changes to market and show our continued appetite to support brokers across the specialist arena.
!Having remained open for business throughout the Covid-19 pandemic, we head towards 2021 with buoyancy and confidence. The bridging market demands experienced underwriting, understanding of individual needs and a willingness to get things done, and I’m delighted to say that we tick all three boxes.
"I’d encourage any broker to contact their regional development manager to find out more, especially as we have more exciting news on the horizon.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: NationwideÂ
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn