The improvements are part of Shawbrook’s continued commitment to the short and medium term finance market for property professionals. Enhancements include:
- The standard commission paid on the STL products has increased to 1.5% on all loans up to £2.5m, while Shawbrook’s network of Strategic Partners will also now receive 1.95% of commission on loans up to £2.5m
- Shawbrook will now accept refinances on all its short term and medium term loan products, to broaden the scope of its lending and enable brokers to complete more deals.
Shawbrook offers competitive pricing of 0.69% per month on its short term loan products, which allied with increased commission and a fast, efficient service, offers brokers an attractive option.
Karen Bennett, Head of Sales and Marketing, Commercial Mortgages, Shawbrook Bank, said:
“We made the commission change in recognition of the huge amounts of work that brokers have to undertake, under very tight timeframes, to complete a deal.
“We value the strong relationships we share with our broker partners and their market knowledge and feedback allows us to continually enhance our products and processes to meet both their, and market requirements.
“These are permanent improvements to our offer, not just flash-in-the-pan gimmicks, and further establish our commitment to the short term finance market and our brokers.”
As with Shawbrook’s current lending criteria, it is essential that property investor clients are experienced with a successful track record of similar projects. Shawbrook also requires the clients to have material independent net worth and income, and to personally guarantee the loan.
