Announcement
Your bridge-to-term cases just became more rewarding
We recognise how important the buy, refurbish and refinance strategy has been to many investors building a property business.
Investors are rewarded with increases to property values and rents in return for the effort of finding the hidden gems to re-purpose older buildings or return derelict spaces as modern homes.
We also recognise the valuable role brokers play in helping clients not only funding these projects, but also the long term mortgage to exit from the bridging loan.
To reflect the work involved in identifying and progressing these opportunities, we have increased the procuration fee payable on eligible Shawbrook short-term cases to 1.00%.
This applies where any Shawbrook Bridging loan is refinanced onto a Shawbrook term product should this be an appropriate solution.
In addition, our existing 1% discount to the term product arrangement fee remains.
This enhancement follows recent improvements to our Bridging proposition, designed to support you and your clients throughout these projects:
- Lending for Costs (LFC) max. LTV increased to 90%
- Commercial Bridging max. LTV increased to 75%
- Reduced product pricing
- Simplified underwriting requirements including the use of CLS title insurance on LFC products, simplified experience criteria and the removal of multiple underwriting conditions
- Re-built Bridging AIP and Full Mortgage Application with a modernised experience and reduced questions