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
Advanced notice: we are raising our rates on some products
I’m writing to let you know that we will be increasing rates on some of our products as of Thursday 26th May.
The products affected are:
- Specialist Buy-to-Let, increasing by 0.4% for mortgages under £1m
- Limited edition commercial rates at 75% LTV, increasing by 0.2% on mortgages above £1m, and 0.3% between £150k and £1m
- Limited edition semi-commercial rates at 75% LTV, increasing by 0.15% on all mortgages above £150k
We appreciate that some of your client’s circumstances may be complex, so we wanted to provide you with as much notice as possible. Our updated Product Guide will be available as of Thursday 26th May and the website will also be updated.
Whilst we are unfortunately seeing rates rise, we want to reassure you that Shawbrook continues to be as committed to the market as ever. We’d like to think this has been demonstrated by the launch of our Buy-to-Let Energy Efficiency Discount, which rewards your clients who have a property with an EPC rating of A-C, with a discounted arrangement fee, plus we have committed to investing in your experience with us through the launch of MyShawbrook Bridging and MyShawbrook Buy-to-Let, our game-changing application portals.
With regards to pipeline, all cases which have had at least an IMO issued (that is less than 14 days old) before Wednesday evening will be honoured. However, if there is no change in case status within 14 days of the IMO being issued then they will have to proceed on the new rates (if applicable).
New Buy-to-Let Energy Efficiency Discount
Shawbrook’s new Buy-to-Let Energy Efficiency Discount supports landlords with energy efficient investment properties.
Available on all new Buy-to-Let cases with an Energy Performance Certificate (EPC) rating of ‘C’ or above, landlords can receive up to 60bps discount on the standard arrangement fee of 1.50%.
Landlords can also apply for a partial refund on the arrangement fee if the EPC rating improves to at least a ‘C’ throughout the lifetime of the mortgage with us.
This new product enhancement is a positive first step following our recent research into the proposed EPC regulation changes, which saw calls from landlords for more support with energy efficiency improvements.