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We lend to experienced property professionals and can consider applications from an individual, partnerships or limited companies, (both UK and offshore where asset and main shareholder are UK based), also trusts and ex pats with a UK credit profile.
Our commercial mortgages can be used for the purchase of a new investment or to refinance an existing property or portfolio. We don’t restrict the number of properties that we lend on and can consider lending up to £10m to any one client.
COMMErCIAL INVESTMENT PROPERTIES INCLUDE
- Semi commercial/ Mixed use
- Retail units
- Modern industrial units
We focus heavily on experience when considering commercial investment, and prefer a strong track record of managing similar properties.
Although we may adopt a more cautious approach when lending on a commercial property, we are starting to see signs of recovery in this market. As such we can consider shorter commercial leases upon evidence that there is demand for re-letting as well as offer tailored repayment options to maximise on rental income.
At Shawbrook, we take our responsibility as a lender seriously and embrace best lending practice. This is why we apply a sensible stress rate when calculating affordability to protect against the inevitable interest rate rises. In doing so, we take sensible measures to ensure that the loan remains affordable - whatever the future brings.
Unlike other lenders, we don’t restrict the number of properties held by an individual or held within a limited company, nor do we insist on you having a minimum income generated outside of your property portfolio – although we will check that your personal income covers your personal expenditure.
TYPICAL TERMS AND LOAN TO VALUE (SUBJECT TO CONDITIONS AND SUITABLE SECURITY):
Our rates start from 4.75% for semi-commercial (more than 50% residential based on property value) and 5.30% for commercial and we can consider loans from £75k to £10m.
We offer a discount on either the margin or arrangement fee for existing clients with rates starting at 4.50% and arrangement fees as low as 1.25%
We can lend up to 75% loan to value (LTV) and offer loan terms from three years to 30 years with flexible repayment options including interest only and part capital repayments.
You can choose to repay a percentage of the capital (5%, 7.5% or 70%). If the asset generates additional income, this can be a sensible option to allow you to reduce the amount of borrowing over the term of the loan.
Alternatively we have three, five and ten year interest only options available. Please note you will need to have a plan in place to ensure you can repay the capital at the end of the term.
Alternatively, you can opt for a full repayment loan, where you repay both the capital and the interest.
Our lender's arrangement fee is added to the loan even outside of maximum loan to value on an interest bearing basis.
Please speak to your broker to find out more about Shawbrook and whether we could assist with your finance needs. If you do not currently have a broker please call our internal teams who will happily provide you with a list of options.
3 MONTH London Interbank Offered Rate (LIBOR)
From 1 July 2016
Please note that Shawbrook Bank applies a minimum rate of 0.75% to the term rate margin.
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