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April 18, 2024
PI Global Investments

Shawbrook introduces rate cuts on real estate finance products – The Intermediary

Shawbrook Bank has announced a series of rate reductions across its real estate finance products, indicating a favourable change in market conditions for property investors.

The rate cuts encompass various products, including buy-to-let, commercial, semi-commercial, and bridging finance options.

The revised rates, effective for new applications from today, include a reduction of up to 0.55% on complex buy-to-let products, now starting at 5.69%. Digital buy-to-let rates have been reduced by up to 0.5%, beginning at 5.99%.

Semi-commercial rates have seen a decrease of up to 0.35%, starting from 6.79%, while commercial rates have been reduced by up to 0.55%, beginning at 7.44%.

In bridging finance, rates have been lowered by up to 0.1% per month, now starting from 0.69%.

Daryl Norkett, director of real estate proposition at Shawbrook, commented on the changes: “In response to the dynamic market conditions, we are pleased to announce a range of rate reductions, designed to empower professional investors with the tools they need to achieve their property ambitions in 2024.

“Having navigated the challenges posed by increasing interest rates in 2023, these adjustments aim to support investors and give them the confidence to proactively engage in the market, backed by a broad range of funding solutions from Shawbrook.”

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