Shawbrook reduce pricing across ‘Large Loan’ proposition

10 September 2015

Shawbrook Bank’s Commercial Mortgages division has made the decision to reduce pricing across their Large Loan product offering by the significant margin of 0.50%. In addition, the lender has retired their product for mixed use commercial assets (LCI3), leaving two products for large commercial investments covering commercial and semi-commercial security (LCI1 & 2).

In summary:

LRI1 (single dwelling), LRI3 (portfolios)
         
• Now 3.70% up to 65% LTV (reduction of 0.50%)
• Now 3.90% up to 75% LTV (reduction of 0.50%)

LRI2 (HMOs/ Student lets)
 
• Now 3.80% up to 65% LTV (reduction of 0.50%)
• Now 3.99% up to 75% LTV (reduction of 0.51%)

LCI1 (Commercial)

• Now 5.85% up to 65% LTV (reduction of 0.50%)

LCI2 (Semi-commercial)

• Now 4.80% up to 65% LTV (reduction of 0.50%)
• Now 4.95% up to 70% LTV (reduction of 0.50%)

The changes come after a lengthy product review during which time the lender consulted with brokers, suppliers and senior management to bring about the re-pricing.

Karen Bennett, Sales & Marketing Director for Shawbrook Commercial comments:

“The maturity of our Large Loan proposition led to the desire to increase our competitive edge on pricing and allow brokers to offer even more for their clients. During the assessment process it became clear that the best option was to remove the mixed portfolio Large Loan product (LCI3), as our brokers expressed a clear preference to transact solely across either residential or commercial assets.”

“We are constantly reviewing our offering to see where we can make improvements and I am delighted that we have been able to make this reduction. When coupled with our on-going commitment to service, I am confident that this product initiative will be well received by the market and look forward to its impact.”

Julie Griggs, Director for Commercial Processing Centre comments:

“As a master broker, it is crucial to have lenders on our panel that continually strive to improve their product range."

Read Julie’s full testimonial here https://commercial.shawbrook.co.uk/PublicDocs/201509/SB_Broker_Testimonial_Sept15.pdf