Shawbrook has launched a series of changes to its products, with the aim of offering professional property investors greater choice and access to larger loan sizes in 2024.
The lender launched a number of limited edition buy-to-let (BTL) products, including 2-year fixed rate limited edition products from 5.59%, with a maximum loan-to-value (LTV) of 70%, and 5-year fixed rate limited edition products from 6.09%, with a maximum LTV of 75%.
The products are available for loans of £150,000 and over, and the arrangement fee for all of Shawbrook’s Limited Edition products remains at 5%, and can be added to the loan.
In addition to these products, Shawbrook removed experience requirements for first-time landlords looking to purchase a small house in multiple occupation (HMO).
The lender is also reintroducing top-slicing across its digital BTL, complex BTL and commercial investment product ranges.
Shawbrook can now consider a larger loan amount for customers with surplus outside income for properties where the rents do not meet DSCR requirements on their own.
The rental income will need to meet a minimum of 110% DSCR with outside income used to support affordability at the standard product rules.