Shawbrook has announced a reduction in rates across its unregulated bridging offering, with rates now starting from 0.40% per month. Prior to today, customers could have expected rates starting at 0.50% per month.
The changes impact the specialist lender’s bridging proposition on loans over £1m across residential, semi-commercial, commercial, and heavy refurbishment products.
The rates apply to loans to value of up to 85%. Shawbrook’s unregulated bridging range caters for loans from £50k to £15m.
Rates on the lenders regulated bridging products remains the same. Changes to Shawbrook’s bridging product range follows a recent reprice across its commercial offering.
Gavin Seaholme, Head of Bridging and Second Charge, comments:
“At Shawbrook we are committed to providing a competitive bridging proposition. The recent restructuring of the Real Estate team to establish a focused bridging and second charge team highlights this long term dedication to help our brokers provide more choice to customers. Our rates are coupled with a strong expertise and understanding of the bridging market and wider property landscape.”