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In a move to enhance financial flexibility and streamline processes for its customers, Shawbrook has launched product transfers for both buy-to-let (BTL) and commercial mortgages. This innovative offering allows existing customers the opportunity to renew their fixed-rate terms without the need for additional borrowing or term extensions, thereby simplifying the refinancing process.
For property investors and commercial borrowers, managing mortgage terms efficiently is crucial. Shawbrook's latest initiative aims to provide a seamless experience by eliminating the underwriting requirements typically associated with refinancing. This development follows the successful rollout of Shawbrook's "Switch & Fix" deal, which has been well-received by existing BTL customers seeking fixed-rate options.
Shawbrook's product transfers are designed to be straightforward, involving just four steps. This streamlined process makes it easier for brokers and professional property investors to secure new fixed rates without the complexities of underwriting. The absence of underwriting requirements significantly reduces the administrative burden, allowing borrowers to focus on their investment strategies rather than navigating complex financial paperwork.
Shawbrook is offering a range of fixed-rate products as part of its product transfer initiative, including two-, three-, five-, and ten-year terms. These diversified options cater to different investment horizons and risk appetites, providing borrowers with the flexibility to choose terms that align best with their financial goals.
Furthermore, existing BTL customers can benefit from reduced rates on loans ranging from £40,000 to £1 million, making the product even more appealing to those seeking cost-effective financing solutions.
According to Daryl Norkett, Director of Real Estate Proposition at Shawbrook, the launch of product transfers is part of the company's broader strategy to simplify the experience for brokers and their clients. This initiative extends Shawbrook's commitment to providing top-notch service and a comprehensive suite of financial products, setting it apart in the competitive BTL and commercial mortgage sectors.
In addition to its BTL offerings, Shawbrook also specializes in commercial mortgages, providing tailored financial solutions for a wide range of commercial property types. These include investments by individuals, limited liability partnerships (LLPs), limited companies, ex-pats, and trusts. Shawbrook's commercial mortgage team takes a detailed approach to understanding each client's specific investment plans, ensuring that funding solutions are closely aligned with business objectives.
For many property investors, maintaining flexibility and controlling costs are paramount. Shawbrook's product transfer option helps achieve these goals by:
Shawbrook has indicated that this launch is just the beginning of its enhanced offerings for existing customers. Plans for future enhancements suggest that the lender is committed to continuously improving its services, likely incorporating additional features and technologies to further streamline customer interactions and provide more robust financial solutions.
Shawbrook's introduction of product transfers for BTL and commercial mortgages marks a significant step forward in the company's mission to enhance customer experience and provide flexible financing solutions. As the property finance landscape continues to evolve, Shawbrook remains poised to meet the changing needs of professional investors and commercial borrowers alike. With its comprehensive range of products and dedication to simplifying financial processes, the company is solidifying its position as a leader in the specialist lending sector.
