Shawbrook Bank has made improvements to its buy-to-let proposition with enhancements to its newly launched Non-Portfolio product.
The lender announced that it has now widened the availability of the product by making it available to customers with small HMO properties.
The non-portfolio product features a fixed rate of 3.69%, up to 75% LTV and follows enhancements made to its AVM criteria to cater for small HMO applications, offering a more efficient and cost-effective valuation process to more customers.
The Non-Portfolio product is exclusively available via Shawbrook’s digital portal, MyShawbrook Buy-to-Let, which streamlines the application process for its brokers. It has been designed to support cases with simple requirements that benefit most from the automated features of the system.
Criteria for those who wish to apply for the Non-Portfolio product include; non-portfolio landlords only, single dwelling applications, including houses or flats in a block up to four storeys, small HMO applications (6 households or less), applicants must qualify for and proceed with an AVM – removing valuation costs for the customer. The product is also available to first-time landlords.
Gavin Seaholme, (pictured) Head of Sales at Shawbrook Bank, comments: “We’ve seen some fantastic outcomes for customers who have made use of our Non-Portfolio product via our slick digital portal, with some cases going to offer 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.”
“As well as improvements to service, more customers can benefit from its competitive rate, as well as a free valuation via our enhanced AVM proposition – so it’s great news all round.”