Commercial Mortgages

All Commercial Mortgages FAQ's

I have received a letter stating that I am moving away from LIBOR – where can I find more information?

If you have an enquiry regarding your existing account, please contact our Service Desk on 0345 848 0223Alternatively, if you would like to discuss the possibility of switching to an alternative product with us, please contact our Sales Desk on 03301 234 521 (option 1) who will be able to discuss the options available to you. There are also multiple external sources of information which you may find useful, including the following:

What is the current Shawbrook Base Rate?

Please visit the Shawbrook Base Rate page to see what the current rate is.

Why do you use a stressed rate in your affordability calculations?

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

We assume an increase to your initial rate, ensuring that, as interest rates rise and as the economy recovers, we are confident that your property will generate sufficient income to cover all of its expenses at that time. As an investment, it is essential the property generates enough income to cover its costs.

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?

You can find the terms and conditions and tariff of charges for Shawbrook property finance on our customer documents page.  

What are the charges associated with taking out a Shawbrook regulated bridging mortgage?

You can find the terms and conditions and tariff of charges for Shawbrook property finance on our customer documents page

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.

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.

If you have experienced a change in your circumstances or are worried you may have difficulty making your monthly repayment, please call our payment helpline on 0345 848 0227.

If you’ve been affected by Coronavirus, either directly or indirectly, and you think you might struggle to make your loan repayments, click on the links to see our Coronavirus page or complete our online form and one of the team will be in contact with you.

Can I make an overpayment to my commercial mortgage, buy-to-let mortgage or bridging finance?

You can make an overpayment 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. Please check your Offer Letter for confirmation of whether Early Repayment Charges apply to your loan.

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.

If you are interested in redeeming your loan with us, you can call us on 0345 848 0223 to request a redemption statement. You can request up to four redemption statements in any calendar year as part of the standard service provided on your account. A fee of £25 will be charged for any additional requests. This fee may be paid by you or another lender.

Will I need a valuation on my property, what will it cost and who will arrange it?

We will require a property valuation. Your mortgage broker will instruct the valuation on your behalf. Valuation fees will be payable, and the cost can be confirmed by your broker or ourselves prior to application. The cost will be dependent on the location of your property and its value. Valuation fees must be paid upfront, are non- refundable and cannot be added to the mortgage balance.