Shawbrook Bank is opening up the distribution channel for its regulated bridging mortgage products.
Initially restricted to Shawbrook ‘Strategic Partners’ as part of a soft launch, the lender says it has reached a point where all related systems and processes have been tested. Several completions have now taken place since the products went live in October 2015.
RB1 (no refurbishment) is priced from 0.59% per month, and RB2 for light refurbishment is priced from 0.65% per month. There is no minimum term, no minimum interest and loan sizes range from £50,000 to £2,500,000.
Karen Bennett, sales and marketing director of commercial mortgages, said: “Since the launch of these two products in October 2015, we’ve seen a strong demand in the market and we are happy with the performance of our systems and processes. Based on feedback from our Strategic Partners, we are now very comfortable that our award winning service can be maintained across a wider distribution platform.
“We hope this increased access will allow more customers to benefit from these products, and look forward to the impact they have for our brokers and their businesses.”