It lowers rates of BTL, commercial, semi-commercial, and bridging products
Specialist lending bank Shawbrook has announced a series of rate reductions across its real estate product portfolio, aimed at supporting professional property investors.
The reprice involves buy-to-let, commercial, semi-commercial, and bridging products, along with the recently introduced limited edition buy-to-let product.
The rates of the bank’s complex buy-to-let products have been reduced by up to 55 basis points (bps), now starting from 5.69%. Digital buy-to-let have been reduced by up to 0.5%, with rates from 5.99%.
Semi-commercial and commercial products have been cut by up to 35bps and 55bps, with rates from 6.79% and 7.44%, respectively.
Rates on the lender’s bridging products have also been lowered by up to 0.1% per month, with rates starting from 0.69%.
“In response to the dynamic market conditions, we are pleased to announce a range of rate reductions, designed to empower professional investors with the tools they need to achieve their property ambitions in 2024,” stated Daryl Norkett (pictured), director of real estate proposition at Shawbrook.
“Having navigated the challenges posed by increasing interest rates in 2023, these adjustments aim to support investors and give them the confidence to proactively engage in the market, backed by a broad range of funding solutions from Shawbrook.”
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