View more on these topics

Shawbrook cuts specialist BTL rates by up to 0.96%

Scissors-Cut-Tailor-Measure-Measurement-700.jpg

Shawbrook’s Commercial Mortgages team has cut rates by up to 0.96 per cent on specialist buy-to-let products.

The specialist lender has also brought in three LTV tiers across all specialist buy-to-let and commercial products.

This new pricing is available from 19 December.

Shawbrook is also revising its affordability criteria to bring in separate coverage ratios for individual and corporate borrowers.

Shawbrook’s broker panel will be able to submit applications under the existing criteria until 16 December.

Shawbrook Commercial Mortgages managing director Karen Bennett says: “We are confident that these rate reductions provide a timely boost to brokers and their clients and, whilst the buy-to-let market faces headwinds in 2017, we look forward to continuing to support our partners with a considered and sustainable lending approach.”

Recommended

Home-House-Monopoly-Money-Property-700x450.jpg

Shawbrook H1 profit up 14% to £38m

Shawbrook Group’s H1 profit before tax rose 14 per cent on H1 2015 to £38m. A Shawbrook statement says the figure takes into account a £9m impairment charge last month. The group’s property finance arm increased gross lending by 19 per cent to £495m at the half-year mark. The figure includes £103m of second charge […]

boardroom

Shawbrook CFO resigns as firm books £9m impairment charge

 Shawbrook says it will book a £9m impairment charge in the second quarter and that chief financial officer Tom Wood is resigning. The charge is due to “irregularities” in the asset finance part of Shawbrook’s business finance arm, according to Stock Exchange filings. The statement says: “The irregularities, which have now been rectified, were the […]

Money-Notes-Currency-GBP-Pounds-700.jpg

Shawbrook CEO hits out at ‘crazy’ lending practices

The chief executive of Shawbrook Bank has criticised some lenders for reckless lending practices that are akin to “shutting your eyes and hoping for the best”. Steve Pateman has hit out at slack affordability tests that do not sufficiently ensure borrowers can afford their loans once interest rates rise. He told the Telegraph: “When you […]

Survey cover

EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.

Retirement - thumbnail

Defined benefit schemes: Part 2

Justin Corliss, business development manager In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS). In the first instance, PTS should familiarise themselves with COBS 19. All guidance below is designed to […]