The lender is targeting experienced property investors with strong net worth and assets - a client profile that they currently support with their term loan lending.
Stephen Johnson, managing director of commercial lending at Shawbrook Bank, said:
“We are a relatively new lender in the short term loan space but we’ve already seen high demand for our short term loan products which offer competitive pricing and fee structures.
“Shawbrook’s appetite to lend to professional investors is strong and we’re constantly looking at ways to improve our products and processes to meet the needs of our brokers and clients.
Johnson added: “Shawbrook has some very ambitious plans, and we’re confident we can continue to build on the positive momentum we’ve generated since the launch of our STL range.”
The bank claim there are still significant opportunities in the market for property investors to grow their portfolios but many still face a barrier to securing finance fast.
Shawbrook has enhanced its STL range by adding a medium-term residential loan for investors looking to buy, refurbish and release equity from the after works value of the property.
It has also reduced the rental cover required on three or five year residential investment products, reduced rates on semi-commercial investment products and increased the maximum on certain investment products to £10m.
Current rates range from 0.68% per month for residential property, 0.77% per month on mixed use and 0.83% on commercial.
Shawbrook will lend up to 70% LTV and have various interest servicing options.
