The new CI3 product is intended for clients who are looking to raise finance against a mixed portfolio which is at least 70% residential in nature based on property value, but also has commercial or semi-commercial assets.
Previously clients would split their portfolio into two or more transactions and these changes mean they no longer have to.
Karen Bennett, director of sales and marketing for commercial mortgages at Shawbrook Bank, said: “As the commercial property market improves, and with the current buoyancy in the buy-to-let market, there is great potential for property investors to improve and grow their portfolios.
“We’re always looking for ways to help our brokers support their property professional clients, and these two products will help seasoned investors diversify their portfolios or maximise the rental yield and capital value on their property through refurbishment.”
Another product aimed for experienced property professionals who want to do ‘light refurbishment’ to a HMO property, or one being converted to an HMO is RR2.
The product allows them to purchase or refinance the property, complete the works and release the additional capital value without further arrangement fees.