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  • Mortgages & Finance

    PT TV: Interview with Shawbrook Bank (Stephen Johnson, M.D. Commercial)

    Property Tribes caught up with Shawbrook Bank at the Property Investor Show at Excel this past weekend.

    We talked to Stephen Johnson, M.D. of Commerical, about the BTL scene, Shawbank's underwriting process, and the innovative products they are releasing:






    Towards the end of the interview, Stephen mentioned shorter term lending products.

    One of them, a second charge loan, is detailed >>> here. All Shawbrook Bank's suite of BTL products can be accessed through Property Tribes Mortgages and our FREE mortgage sourcing tool.

    Watch highlights and golden nuggets from the Property Investor Show >>> here.

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    Shawbrook Bank: launches into mainstream buy-to-let Was Announced on PT in August, excellent news they are pushing further into Buy to Let.

    Shawbrook is great for not being a computerised system a human looks at the case.

    Its great to see the MD of Commercial at Shawbrook giving credit to Intermediaries that offer a range of products rather than direct.

    Bespoke Finance and select few others have an Semi-Exclusive Pilot product from Shawbrook Bank discussed on Property Tribes Here

    Bespoke & Shawbrook Pilot Wrote:Criteria/Product highlights include:-
    Rates from 3.59% over 3 month Libor, currently 0.75%
    Available to 70% LTV for both purchase & remortgages
    No limit on number of BTL mortgages with other lenders
    No minimum background income
    No evidence of background income
    No bank statements
    Up to 3 late unsecured payments acceptable(no more than 2 on any one facility)
    Remortgages considered prior to 6 months ownership
    Remortgage legal fees included in lender arrangement fee

    Online DIP Only
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    THIS PROPERTY TRIBES ACCOUNT IS NO LONGER USED.
    DO NOT SEND PRIVATE MESSAGES.

    --- MORE INFO HERE ---

    YOU CAN REACH ME AT BESPOKE FINANCE or MY TEAM AT 08009202001


    Stephen talks about a product for refurbishment. He seems to suggest you don't have to bother with a bridge to start with.Can someone explain how this works?
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    There are some product details >>> here.

    I believe it is essentially a loan that is secured via a 2nd charge on your main residence (assuming you have a resi mortgage).

    The loan is redeemed once you refinance the project to the new LTV.

    If you give Property Tribes Mortgages a call on 029 2069 5480 during office hours, they will be able to give you further details.
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    Yes it's their refurbishment product; basically their term loan with a slightly higher fee.

    Just be wary of some of the Shawbrook criteria that may make an ordinary cash/bridge/refi onto buy to let more attractive:-

    Min value £100k
    Libor tracker rate only
    Interest only available to a 5 year term otherwise repayment
    Property must be habitable with kitchen and bathroom
    No structural works or change of use or planning
    Experienced investors only with refurb experience (they ask for proof)
    Evidence of earned income

    I love Shawbrook and am also one of their partners but you need to compare and contrast rates and terms.

    Lisa



    That product is a secured loan on buy to let's Vanessa not your resi and isn't the refurb product referred to - see my post above.

    Lisa



    (14-10-2013 10:50 PM)vanessa warwick Wrote:  There are some product details >>> here.

    I believe it is essentially a loan that is secured via a 2nd charge on your main residence (assuming you have a resi mortgage).

    The loan is redeemed once you refinance the project to the new LTV.
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    Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com


    Shawbrook Bank are now offering a 0.25% discount on the margin or a 0.25% discount in the arrangement fee for clients who have already been party to a completed loan with them.

    This makes a very refreshing change from lenders who have traditionally only chased new customers with deals showing they realise the value in repeat business and loyal customers.

    Big advantages they have over many other less specialist commercial lenders is their desire to lend with far less onerous stress testing compared to high street banks, Interest Only for commercial and BTL property and lending directly to Limited companies. In our interviews, Shawbrook have been keen to stress that they driven by common sense not bureaucracy looking for ways of saying yes to clients and not the often received “computer says no” answer from many lenders.

    Shawbrook Bank lend on single investment units, portfolios, multi-units, HMO’s and student lets. They lend to both individuals and Ltd Co’s and do not limit the amount of properties that the client can own or the business activities of the limited company.

    However they are not able to offer any direct customer advice or sales, and only accept business from intermediary brokers registered to their panel.

    Along with their residential investment products they offer interest only mortgages up to 75% LTV and have a range of Commercial Mortgages and short term loans.

    Read the full story and further information >>> here.
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    It is welcome V and they are constantly reviewing their range. They have got a huge appetite for property although you have to be an established landlord.

    I'm a founding partner of theirs and it makes me very proud to see how far they have come.
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    Regards Simon Searchlight Finance

    Fulfil Your Property Ambitions

    01565 654005

    Searchlight Finance Ltd is authorised and regulated by the Financial Conduct Authority reference 743220.

    HMO Finance I Complex BTL I Bridging Finance I Development Finance

    Buy to Let I Portfolio Finance I Commercial Mortgages

    Hello Vanessa

    Thanks for inviting me to comment on this thread. You've mentioned their retention strategy and I must say that combine this with their excellent service, innovative products and desire to support the property investor community via a panel of approved Brokers, it does seem a stellar proposition.

    This year we have transacted huge volumes of business with Shawbrook and our Clients have massively benefited from their proactive service and speed of processing.

    Next year at our Spring seminar for property investors in London, Shawbrook Bank has already already agreed to be a panel presenter which of course has added much kudos to our event. And with a certain media (and property) professional agreeing to film it too ..... Smile

    Last week alone, due to their 0.25% discount (off of their already excellent rates and fee structure), my team managed to close a huge amount of repeat business from existing Clients.

    So, yes, I am a fan of Shawbrook Bank and as a Broker Partner (just down the A12 for us too) we have a great relationship with them, which helps our Clients with speed of processing, personal service and access to products and strategies not available elsewhere.

    'compliance note' ........ other providers and products are available and as Lisa Orme has said below "you need to compare and contrast rates and terms."
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