According to the lender, specialist BTL loans between £150k and £1m have been re-priced with rates from 6.29% now available. BTL loans worth over £1m now start with rates of 5.69%.
The lender also announced that it has made changes to its semi-commercial offering, with rates on loans over £1m being re-priced from 6.49%.
Alongside the rate reductions, Shawbrook also made some criteria enhancements, with maximum loan-to-value increased by 5% to 75% on specialist BTL and 70% on semi-commercial deals alongside standard payrate debt service cover ratio calculations for 5-year fixed-rate loans.
Daryl Norkett, Head of Real Estate Proposition at Shawbrook, said: “Shawbrook has always remained committed to offering competitive rates on our buy-to-let loans and we are delighted to be able to roll out these changes with immediate effect.
"This follows our recent pricing reductions on our Digital BTL products which now start from 5.39% on a 5-year fix and benefit from automated initial decisioning, AVMs and non-represented legals for refinances. As a trusted partner to brokers, we want to ensure we are offering competitive pricing and flexible criteria that allows their professional landlord clients to access the finance they require when they need it.”
