Mortgages FAQs

Why do you apply a stress to your income calculations?

Shawbrook takes its responsibility as a lender seriously so we apply a stressed LIBOR rate when calculating affordability.

Can I change my payment date?

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.

Can I borrow additional money from Shawbrook?

We would like to help you and your business succeed.

Can I have a copy of your tariff of charges for commercial mortgages?

For Regulated Bridging Mortgage click here
For Unregulated Commercial Mortgages click here


I want to sell/re-mortgage one of the properties mortgaged with you - can I do this?

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.

Can I move the mortgage to another property in my portfolio?

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.

I want to let my commercial property – what do I do?

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.

You have a second charge on another property for additional security. I want to re-mortgage this property to another lender – can I do this?

This would be a Deed of Postponement application and this is something we can consider for you.

What if my loan completed before January 2011?

If your loan completed before January 2011, you may be on a different version of LIBOR. If you think this may affect your loan, please contact us on 0345 848 0223.

I have a short term loan with you - can I extend it?

We can't ordinarily consider an application to increase your loan term (unless there are exceptional circumstances that have caused your project to overrun). However, we will gladly consider a new application from you for a longer term mortgage product on the property. Give us a call on 03301 234 522 and we can work out the options that are available for you.

I have a retention on my mortgage – how do I get this released?

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.

I have a retention but don’t need it anymore – what do I do?

Just let us know- we can simply apply the retention to reduce your mortgage balance.

I want to borrow more money with another lender and secure this against the security property - can I do this?

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.

I want to be removed from the mortgage – can I do this?

Unfortunately not - the mortgage was agreed on the covenant of all current borrowers.

I have a limited company loan - can I transfer the loan to another limited company?

No, loans are not portable between companies, even if that company is related.

I’m leaving my Limited Company - will you release me from the guarantee?

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.

I want to apply for planning permission to change/develop the property - can I do this?

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.

Can I take a payment holiday?

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. 

Can I make an overpayment?

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.

Can I redeem my loan early?

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.

I want to vary a commercial lease that has been previously approved on my property - can I do this?

Any proposal to vary a lease will need our consent under the terms and conditions of your loan with us.

I have a leasehold property mortgaged to you and want to extend my lease - will you consent?

We will just need to ensure that the legalities are in order but usually, this is an application we would approve.