Shawbrook adopts fixed rate approach to Short Term Lending and Regulated Bridging Mortgage products

07 July 2016

Shawbrook Commercial Mortgages, part of the recently formed Property Finance Division of Shawbrook Bank has announced an update to its pricing for Short Term and Regulated Bridging product ranges.

With immediate effect, their Short Term and Regulated Bridging Mortgage offerings will operate on a fixed rather than a variable basis. To clarify, the rate will be fixed at the offered rate and will remain unchanged for the duration of the term.

The Bank has confirmed that any new offers will now reflect the change along with all available online tools within the Broker Hub portal.

Karen Bennett, Managing Director, Commercial Mortgages comments:

“We feel that by offering a fixed rate it allows the customer to have a clear picture of their financial commitments at the end of the term when these are rolled up and retained. This is standard practice within the bridging market, bringing us more in-line with our peer group, and when coupled with the compelling nature of our Short Term product offering ensures Shawbrook is even better placed to deliver the right outcome for the client. This change comes following feedback from our Broker Partners along with market analysis by the Short Term Lending team and I am delighted to be able to bring this to market.”