Shawbrook has announced the launch of a new commercial trading mortgage product, offering to help small businesses purchase or refinance the premises from which they trade, or raise funds for business expansion.
This addition strengthens Shawbrook’s existing commercial offering by providing a solution tailored to the needs of trading businesses. Loans are available up to £1.25 million, with interest-only terms of up to 12 years, and criteria focused on the affordability of repayments and the quality of the underlying property asset.
Borrowers will benefit from faster decisions, reduced documentation requirements, and an efficient path to completion. Shawbrook’s existing completions processes are available, including non-represented legals for refinances and the use of the title insurance for eligible cases.
The range offers rates from 6.59% with variable rates and two, three and five-year fixed rates available up to 75% LTV.
Daryl Norkett (pictured), director of real estate proposition at Shawbrook, commented: “Commercial trading is part of Shawbrook’s DNA, so it made perfect sense to introduce a specialist mortgage product tailored to this growing need.
"We’ve designed it with simplicity - helping clients secure the finance they need quickly and efficiently for their business premises. Brokers will also benefit from our enhanced application journey, creating a smoother, more cohesive experience for both them and their clients.”
