Rates on SB1 single let products now start from 4.64%, following reductions of up to 0.30%. Rates on SB1 HMO and MUFB products, for properties of up to 10 units, now start from 4.69%, after cuts of up to 0.50%.
The lender said the changes are intended to support affordability, refinancing activity and cases that may previously have struggled to reach higher loan to value limits.
For SB1 single lets, five year fixed rates at 75% LTV with a 3% arrangement fee have reduced to 6.19% for loan sizes between £50,000 and £150,000, down from 6.49%. Rates for loans between £150,000 and £1m have fallen to 5.69% from 5.99%.
These products are available through Shawbrook’s Broker Hub, which will automatically offer an AVM where available.
Across SB1 HMO and MUFB products, five year fixed rates at 75% LTV with a 3% arrangement fee have reduced to 6.29% for loan sizes between £50,000 and £250,000, down from 6.69%. For loans between £250,000 and £1m, rates have fallen to 5.79% from 6.29%.
Shawbrook said the products offer the option of commercial valuations for HMOs with up to 10 occupants.
The rate reductions follow recent changes to Shawbrook’s structured real estate proposition, which saw the bank expand its large loan offering aimed at brokers operating in the mid market and more complex lending space.
Daryl Norkett, director of real estate proposition at Shawbrook, said:
“The Shawbrook proposition is about a broad range of solutions that provide financing for professional landlords where no two deals are the same. Hot on the heels of our Structured Real Estate expansion for larger loans, these latest reductions across our SB1 range give brokers improved pricing for both single let cases and HMO or MUFB transactions on more typical loan sizes up to £1m, while continuing to benefit from the flexibility and service-led approach Shawbrook is known for.”
