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Shawbrook cuts BTL range to three products

Shawbrook Banks has simplified its buy-to-let range down to just three products, a few months after streamlining its range from 10 to seven products.

The lender’s products now cover single buy-to-let, complex buy-to-let and large HMO.

Single buy-to-let applications now cater for property investors looking to borrow under £750,000. Those looking to borrow more, or who have portfolios and small HMOs, fit into the complex category and large HMOs are classed as properties with seven or more occupants.

Those seeking to borrow more, or who have portfolios and small HMOs, fit into the complex category and large HMOs are classed as properties with seven or more occupants.

Interest rates have been adjusted accordingly to the new products, which now start from just 3.25%.

Additionally, Shawbrook has launched a new buy-to-let online application form, which is available for all BTL and HMO applications that have received an indicative mortgage offer. 

The online form will pull through information that has already been provided by the broker during the initial stages, removing the need to re-key this data when progressing the case.

 

With constant interruptions being commonplace in the busy day-to-day of a typical broker, an autosave feature has also been built in so the user can come back at a later stage without any progress being lost. 

Once completed, the broker will receive a PDF copy of the application for their records making for a much improved experience.

Emma Cox, sales director of the Property Division at Shawbrook Bank, commented: “After hearing the positive feedback around our refresh late last year, we immediately looked to take another step towards further improving the broker and customer experience with Shawbrook. 

“It’s crucial to ensure complete clarity for the broker community when it comes to one’s products, and we feel this simplification really ticks that box to make us even easier to do business with.

“With a digital application form now available to our brokers that has received glowing feedback so far, I’m delighted with the positive start we have made to 2020.”

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