Announcement
Introducing 2 and 10 year fixed rate
Recently launched across our Complex Buy-to-Let and Commercial Investment mortgages, our new 2 and 10 year fixed rate terms provide flexibility and choice for your property investor clients in an ever-evolving market.
- Our 2-year fixed rate provides a shorter commitment option for investors seeking flexibility. Rates start at 6.69% for Complex Buy-to-Let and 7.24% for Commercial
- Our 10-year fixed rate supports those investors who are seeking longer-term security, with rates starting at 6.39% for Complex Buy-to-Let and 6.94% for Commercial
Our expert teams continuously strive to deliver innovative solutions, and we’re delighted to expand our offering with PROducts designed specifically for PROfessionals, by PROfessionals.
Your go-to lender for PROperty finance.
If you have a case you would like to discuss with us, visit our website or get in touch with our team today.
Backing your HMO clients
At Shawbrook, we’re backing your HMO clients to maximise their investment potential.
We’ve made some changes to our proposition to simplify the way we assess affordability, which will allow us to make more accurate lending decisions and further support your HMO clients.
These changes will be live from 5:30pm tonight (Thursday 14 September 2023), and here is a summary of what to expect:
What are the changes?
- Amending our valuation instructions to ensure valuers deduct only the property-related costs with calculating and reporting on Adjusted Gross Rent (AGR).
- Reduction in our debt service cover ratios from 165% to 130% for Limited Company borrowers on HMO properties.
- Reduction in our debt service cover ratios from 190% to 165% for individual borrowers on HMO properties.
Why are we making these changes?
- We want to simplify the process for you and your customers.
- We want to reduce the possibility of double counting costs.
- To allow for valuers to consider the costs of a specific property which vary on size, age and specification
What does this mean for your landlord clients?
Implementing these changes means we will be able to offer a more accurate assessment of affordability for your HMO clients. This will simplify the process and support additional leverage for high quality HMO properties.
We have deep and longstanding expertise in the HMO market and are committed to supporting landlords with investment valuations on appropriate assets.
View our lending criteria
Ensure you’re up-to-date with the changes to our proposition by taking the time to read our lending criteria, available on our website.