Offering available to existing BTL and commercial mortgage customers
Shawbrook has launched its new Product Transfers solution, designed to simplify the fixed rate renewal process for existing customers.
The offering allows clients with buy-to-let or commercial mortgages to renew their fixed rate without undergoing additional underwriting, provided no extra borrowing or term extensions are needed.
The new solution follows a four-step process, enabling brokers and their professional property investor clients to select a new fixed rate efficiently.
The launch builds on the introduction of Shawbrook’s Switch & Fix offering last summer, and includes a variety of two-, three-, five-, and 10-year fixed rate products. Existing BTL customers with loans between £40,000 and £1 million can also benefit from reduced rates.
In addition to product transfers, Shawbrook continues to offer its refinance option for customers looking to adjust their mortgage terms or raise additional capital.
“The success of Switch & Fix has been key to the launch of Product Transfers in demonstrating the strong demand from our brokers and customers for fixed rate options,” said Daryl Norkett (pictured left), director of real estate proposition at Shawbrook. “We’ve been able to develop the platform to enable brokers and customers to choose a new fixed rate product on the existing mortgage, removing the underwriting requirements of refinancing to a new loan.”
Claire Rankin (pictured right), director of real estate specialist lending at Shawbrook, added that with the new product transfer offering, the lender was able to provide a process familiar to the residential and buy-to-let market but with the enhanced capability to extend to commercial mortgages as well.
“It’s just the beginning – we have some fantastic enhancements scheduled for later this year that will continue to elevate our offering for existing customers,” Norkett said.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
