Shawbrook takes its responsibility as a lender seriously so we apply a stressed LIBOR rate when calculating affordability.
Yes. We understand how important it is for you to manage your monthly incomings and outgoings and are happy to help by changing your payment date for you, as long as the change doesn't extend the overall term of your loan.
We would like to help you and your business succeed.
This is an application we can certainly look at for you. We call this a Part Release application, as you are releasing part of the security for the loan.
We can consider this application. An administration fee of £115 is payable at the start of the application, to help cover our costs in managing the request.
Under the terms of your mortgage with us you'll need our consent prior to agreeing to let your property. We will just need to make sure that the lease is on commercially acceptable terms, in line with market rental, and that the affordability for your loan will not be impacted.
This would be a Deed of Postponement application and this is something we can consider for you.
A retention is held when there are essential works that are needed on the property. Your original Offer Letter will detail the works that are required and the terms on which the retention has been held.
This is an application we can consider from you. We'll just need to make sure that the request will not reduce your ability to service your loan with us, and that the level of lending against the property will not exceed 75% of its value.
Unfortunately not - the mortgage was agreed on the covenant of all current borrowers.
No, loans are not portable between companies, even if that company is related.
This isn't a request we can consider as the mortgage was agreed on the strength of covenant provided by all guarantors. The obligations under the guarantee are tied to the individual and will remain in place until the debt is fully repaid, even if the individual leaves the company.
Under the terms of your mortgage we'll need to consent to any planning application prior to submission to the local planning authority. We'll also need to consent to the development works before they start.
We don't offer payment holidays on any of our loans; you'll need to make your payments by Direct Debit each month as they fall due.
You can make an overpayment on your loan with us at any time. There is no minimum or maximum amount you can overpay, however for some of our products you may incur an Early Repayment Charge on the amount you repay if you pay off more than 10% in a 12 month period.
You can pay back your loan with us at any time. For some of our products, you will incur Early Repayment Charges if you pay your loan back before the agreed end date of the loan. Please check your Offer Letter for confirmation of whether Early Repayment Charges apply to your loan.
Any proposal to vary a lease will need our consent under the terms and conditions of your loan with us.
We will just need to ensure that the legalities are in order but usually, this is an application we would approve.