Shawbrook Bank has made more buy-to-let options available to customers with small HMO properties.
Shawbrook Bank has madeimprovementsto its newly launched non-portfolio product,makingitavailable to customers with small HMO properties.
Thebank said the changesmean more customers can benefit from the product which offers afixedrate of 3.69% up to 75% loan-to-value (LTV).
Shawbrookhas also changed itsAVMcriteria to cater for small HMO applications, aiming to offer a more cost effective valuation process to more customers.
Thenon-portfolioproduct is exclusively availableviaShawbrook’s digital portal MyShawbrook Buy-to-Let which streamlines the application process foritsbrokers.It has been designed to support cases with simple requirements that benefit most from the automated features of the system.
In order to be eligible for the non-portfolio product, customers must be non-portfolio landlordsonly with single dwelling applications, including houses or flats in a block up to four storeys. The product is also available to first-time landlords.
Gavin Seaholme, head of sales at Shawbrook Bank, said:“We’ve seen some fantastic outcomes for customers who have made use of our non-portfolio product via our digital portal, withsome casesgoing tooffer in just three hours.
“Naturally, we want to make that experience possible for even more customers, which is why we have broadened the product criteria to cater for small HMO properties.”
