Shawbrook has recently unveiled a series of changes to its product lineup, aiming to provide professional property investors with more options and the ability to access larger loans in 2024.

Among the new introductions are limited edition buy-to-let (BTL) products. These include:

• 2-Year Fixed Rate Products: Starting from 5.59% interest rate, these are available with a maximum loan-to-value (LTV) ratio of 70%.
• 5-Year Fixed Rate Products: These begin at a 6.09% interest rate, with a higher maximum LTV of 75%.

These products cater to loans starting at £150,000. An interesting aspect of these offers is the arrangement fee, consistently set at 5% for all of Shawbrook’s Limited Edition products. This fee can be conveniently added to the loan, easing initial financial burdens for borrowers.

Support for First-Time Landlords

Shawbrook has also taken a significant step by removing experience requirements for first-time landlords. This is specifically aimed at those who are looking to purchase a small house in multiple occupation (HMO), making it easier for new entrants to step into the property investment arena.

Reintroducing Top-Slicing

Another key development is the reintroduction of top-slicing across various product ranges, including digital BTL, complex BTL, and commercial investment products. This is particularly beneficial for customers who might have surplus income from other sources.

Larger Loan Consideration

Shawbrook now offers the possibility of considering larger loan amounts for customers whose outside income can supplement properties where the rents alone do not meet the Debt Service Coverage Ratio (DSCR) requirements. However, it’s important to note that the rental income must meet a minimum of 110% DSCR, with the outside income aiding affordability under the standard product rules.