Rates are reduced by up to 0.30%
Shawbrook Bank has announced rate reductions on its buy-to-let mortgage products, with some rates decreased by up to 30 basis points (bps).
The changes affect Shawbrook’s complex BTL offerings, particularly for loans ranging from £1 million to £5 million. New rates include a reduction to 6.34% for both five- and 10-year fixed loans at a 65% loan to value (LTV) ratio, and a decrease to 6.44% for 75% LTV.
Three-year fixed rates are now 6.49% at 65% LTV and 6.59% at 75% LTV, while two-year fixed loans have dropped to 6.54% at 65% LTV and 6.64% at 75% LTV.
Shawbrook has also applied rate cuts to its limited edition complex BTL products. Specifically, five-year fixed term loans have been reduced to 5.84% at 65% LTV and 5.94% at 75% LTV. Two-year fixed term rates now stand at 5.44% at 65% LTV and 5.54% at 70% LTV, the maximum LTV available for this term.
Read more: Shawbrook boosts support for property investors
“At Shawbrook, we have always been committed to delivering competitive rates on our buy-to-let products,” said Daryl Norkett (pictured), director of real estate proposition at Shawbrook. “These latest pricing reductions demonstrate our strong appetite to support brokers and professional landlords with a wide choice of lending products.
“Customers are now able to benefit across two-, three-, five-, and 10-year fixed rates which have been reduced by as much as 30bps. As a trusted partner to brokers, we pride ourselves on offering competitive, flexible financing to support our professional landlord clients as and when they need it.”
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