Shawbrook has announced a series of updates to its commercial mortgage products, including rate reductions of up to 0.70% on its two, three and five-year fixed rate products.
The bank has also reduced its minimum debt service cover ratio (DSCR) from 130% to 125% for individual and limited company borrowers on commercial property and limited companies investing in semi-commercial assets.
This change is designed to make it easier for brokers to access a wider range of products for their clients, particularly on shorter-term two and three-year fixed rates.
Daryl Norkett (pictured), director of real estate proposition at Shawbrook, commented: “We are committed to supporting the commercial property market with products that meet the needs of brokers and their clients. The reductions to our fixed rates and DSCR requirements will help investors seize opportunities, with access to the right solutions at the right time.
"With more investors re-entering the market or diversifying their portfolios by adding higher yielding properties, we’re proud to continually enhance our proposition to support brokers and their professional property investor clients.”
