Shawbrook Bank increases maximum loan size across second charge offering

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  • The specialist lender has announced changes to their prime second charge product

Shawbrook has increased the maximum loan size across their prime second charge mortgage proposition, with changes impacting the 75% and 85% LTV bands.

The maximum loan size has increased from £100,000 to £150,000 on loans up to 85% LTV, whilst the more significant increase has been made on loans up to 75% LTV, with the maximum loan amount rising from £200,000 to £500,000.

Gavin Seaholme, Head of Sales at Shawbrook’s Property Finance division said: “This is just another step in our ongoing product innovation plans for 2021. We are committed to supporting the second charge market and want to give our brokers a wider choice when it comes to assisting clients with larger funding requirements.”