Shawbrook have a market update, please see below. Contact us to see how you can benefit from our support or contact Shawbrooks Sales Team here.
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Announcement
Update to Shawbrook Base Rate
Following the announcement of the increase to the Bank of England Base Rate, Shawbrook Base Rate has increased to 1.00% impacting our variable rates.
Our documentation will be updated accordingly and circulated shortly, but in the mean time please visit our website for correct rates.
New! Energy Efficiency Discount
Today we’re launching a Buy-to-Let Energy Efficiency Discount to help landlords make improvements to their properties to make them more efficient and consequently, more environmentally sound.
Following our research into the proposed changes to energy performance regulations, Shawbrook is more committed than ever to support landlords in becoming more energy efficient, protecting their portfolios, while also contributing to a greener future for all.
We plan to continue to improve our proposition to ensure we can keep making a difference, and the Energy Efficiency Discount is just the first step in a long line of creative solutions in the pipeline.
Buy-to-Let Energy Efficiency Discount.
Available across the entire Shawbrook Buy-to-Let offering, all new cases submitted with an Energy Performance Certificate (EPC) rating of ‘C’ or above will be eligible for our Buy-to-Let Energy Efficiency Discount on the arrangement fee.
The following discounts will apply to our 1.50% standard arrangement fee:
EPC Rating | Discount | New Arrangement Fee |
A | 0.60% | 0.90% |
B | 0.45% | 1.05% |
C | 0.25% | 1.25% |
For example, on a £250k mortgage, a customer could save up to £1,500 on the arrangement fee upfront.
In addition, landlords can apply for a partial refund on the arrangement fee if the EPC rating has improved to at least a ‘C’ post-completion. Upon submitting a new certificate to us, we will issue a partial refund to the customer, plus the cost of the new EPC (up to £100). The refund amount is based on the same discount percentages outlined above.
Useful information.
- All pre-offer cases that are currently in pipeline, and meet the relevant EPC criteria, are eligible for the Buy-to-Let Energy Efficiency Discount
- The discount can be used in conjunction with our existing customer discount of 0.25%
- The discount is also eligible on cases that product switch or refinance to a buy-to-let product
- Only cases that have completed on or after Friday 6th May 2022 are eligible for the partial refund of the arrangement fee
- One mortgage can benefit from the Energy Efficiency Discount on the arrangement fee and for the partial refund post-completion. A partial refund can be applied for every time the EPC rating improves throughout the lifetime of the loan (same discount percentages apply)
- For accounts with multiple properties, the discount will only apply to properties rated C or above
Sustainable solution with Bridge-to-term.
Are your clients looking to purchase an investment property that falls outside of the eligibility for the Energy Efficiency Discount? With our unregulated bridging products that include a refurbishment element, your customers can make energy efficient improvements to their property before transitioning to a Buy-to-Let mortgage with us.
Not only that, if your customer moves from our bridging finance to one of our buy-to-let products, they will be eligible for a discounted arrangement fee of 0.75% (usually 1.50%) and if their property is rated C or above, they will also benefit from the Energy Efficiency Discount as well. Unregulated bridging offering.