Shawbrook cuts second charge rates by up to 0.80%
Shawbrook Bank has reduced rates across its second charge mortgage range by up to 0.80%
"We champion our brokers and value the great work they do – so we hope these changes will assist them in providing further choice to their customers"
Changes have been made to products between 65% and 85% LTV, with fixed rates now starting from 4.20% and variable rates from 3.80%.
In addition, Shawbrook has reduced its minimum property value to £70,000.
Caroline Mirakian, head of intermediary distribution at Shawbrook Bank, commented: “Throughout 2019 we have been listening very carefully to our broker partners and we believe that the recent rate changes reflect this.
"We champion our brokers and value the great work they do – so we hope these changes will assist them in providing further choice to their customers, particularly where a second charge may be a suitable alternative to a remortgage or further advance.”
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