Shawbrook cuts rates on larger BTL loans – Mortgage Finance Gazette
Shawbrook has reduced rates on selected buy-to-let products by up to 30bps.
The rate cuts are across its complex and limited edition BTL ranges for borrowers taking out larger loans of between £1m and £5m.
In its complex BTL range Shawbrook will now charge a rate of 6.34% on its five and 10-year fixed rates up to 65% LTV. For those borrowing up to 75% LTV the rates is 6.44% — a cut of 30bps.
In this range it has also cut the cost of its three-year, and two-year fixed rates. Its three-year fixes will now start at 6.49% (at 65% LTV) while its two-year fixes have been reduced to 6.54% at 65% LTV and 6.64% at 75% LTV.
Shawbrook has also made changes to its limited edition complex BTL products, again for loans between £1m and £5m, this time across its two- and five-year fixed-rate products.
Its five-year fixed term loans have been reduced to 5.84% at 65% LTV, and 5.94% at 75% LTV. Meanwhile its two-year fixes been lowered to 5.44% at 65% LTV and 5.54% at 70%.
Shawbrook director of real estate proposition Daryl Norkett says: “These latest pricing reductions demonstrate our strong appetite to support brokers and professional landlords with a wide choice of lending products.”
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