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Shawbrook has made changes to its semi-commercial and specialty products for difficult cases.
Specialized BTL loans between £150K and £1M have been re-priced to start at 6.29%, while BTL loans over £1M will have rates starting at 5.69%.
Shawbrook has also made changes to its semi-commercial offering, with rates on loans over £1m cut from 6.49%.
Along with the rate cuts, Showbrook also announced improvements to some benchmarks following changes made in the fourth quarter of 2022.
The maximum loan-to-value (LTV) ratio increased by 5% to 75% for specialized BTLs and 70% for semi-commercial transactions, along with debt coverage ratio calculations at the standard payment rate for five-year fixed-rate loans. .
Shawbrook Head of Real Estate Offerings Daryl Norkett says, “Shawbrook has always remained committed to offering competitive rates on our buy-to-let loans and we are pleased to be able to implement these changes with immediate effect.”
“This follows our recent price cuts on our BTL digital products, which now start at 5.39% at a five-year fix and benefit from an automated initial solution, AVM, and unrepresented legal entities for refinancing.”
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