Shawbrook has made changes to its core commercial mortgage proposition, expanding its range of solutions for customers and broker partners looking for targeted financial solutions in this area. He lender has reduced its minimum loan size to £250,000 across its commercial and semi-commercial mortgage product range, with rates being reduced by 10bps. Shawbrook has also increased the maximum LTV by 5% on to 75% and 65% on semi-commercial and commercial products respectively. Retail assets have been reintroduced as acceptable security and the lender has relaxed experience requirements for application from buy-to-let (BTL) landlords.

United Trust Bank’s (UTB) active mortgage loan book has exceeded £1bn for the first time, as the lender’s mortgage for intermediaries division predicts 24% growth in new business this year. UTB launched into the mortgage market in 2016 with a second charge offering. The lender expanded its product range in 2020 to include specialist first charges for purchases, remortgages and unencumbered properties, following by a specialist BTL range in 2022.

Market Financial Solutions (MFS) has launched a new range of lower-rate BTL mortgages, including special edition trackers with pay rates as low as 0.25% plus the Bank of England base rate. The new range allows for brokers and their clients to choose their product fee depending on the borrower’s individual requirements, with flexibility to choose between a 2%, 4% or 6% fee across all four tiers. A higher product fee, which is added to the loan and not paid upfront, means that borrowers can benefit from lower interest rates which can help with cash flow or generating a larger loan size. MFS’ new range now has an extended term of five years, up from three, whilst still maintaining low early repayment charges in the first two years and giving flexibility of being free to leave afterwards, if a borrower wishes.

Share Story: