Shawbrook informs you that they have made some adjustments to their Buy-to-Let and Commercial Investment products effective from Tuesday 15 November:
Buy-to-Let
- Maximum 70% LTV
- Minimum loan size remains at £40k
Commercial Investment
- Commercial Investment maximum 60% LTV & Semi-Commercial 65% LTV
- Minimum loan size has increased to £1m
Their e-AIP portal will be offline from Tuesday 15 November but all Commercial and Semi-Commercial applications can be submitted via interactive PDF forms to cm.admin@shawbrook.co.uk.
AIP and full application forms are available to download below and on the ‘Documents’ tab of Broker Hub, and have functionality for you to complete without printing.
For Shawbrook Refinances, Product Switches and Bridge to Term applications, they are able to make an exception and consider loans below the new £1m loan size.
Please note, MyShawbrook remains online for all Buy-to-Let and Bridging submissions.
It’s evident that the commercial property sector is being increasingly impacted by the wider economic environment they are all facing. However, they remain committed to the sector and these changes are necessary to ensure that they can continue to offer these products to the market.
They are dedicated to supporting you and your clients by delivering on their pipeline cases, and consequently, their experienced sales team will be providing additional support on existing cases to ensure they continue to make sensible and sustainable lending decisions. They kindly ask, as they all navigate the current market, that you ensure your cases are fully packaged and valuations reviewed to support their underwriting teams.
Documentation
Please download the latest versions of the product guide and lending criteria guides for accurate information.
If you require support or further information, particularly managing these changes with your clients, please do not hesitate to contact their team who are here to support you.