Bridging just got better.
We’ve strengthened our bridging proposition with a range of product enhancements and simplified underwriting requirements.
Selected products benefit from reduced pricing and increased maximum LTVs. We’re also pleased to share a range of underwriting improvements that we’ve delivered over the last few months to make it easier than ever to do bridging business with Shawbrook.
What’s changing:
What’s changing:
90% Lending for Refurbishment Costs -Up to 90% LTV day-one for Lending for Refurbishment Costs (LFC).
Reduced Monthly Pricing
- Threshold on smaller loan products has been reduced from £150k to £100k. This means rate reductions of up to 0.2% for loans between £100k and £150k.
- Rate reductions of up to 0.05% on loans over £150k, now starting from 0.69%.
Simplified Underwriting Requirements
- CLS title insurance now available on LFC.
- No previous experience required for Commercial bridging (subject to a viable exit strategy being satisfied).
- Simplified Heavy Refurbishment experience criteria – experience of completing a similar project is preferred but first-time
- projects can now be considered, subject to underwriter assessment.
- Multiple underwriting requirements removed:
- Schedule of Works for residential bridging removed
- Portfolio Sheet Assessment removed
- Evidence of funds for Light Refurbishments removed
- Multiple automated IMO conditions removed
Plus, we’ve evolved our automated AVM bridging proposition with up to 75% LTV available for individual houses and flats, subject to criteria.
The latest guides are available below for you to download.