Shawbrook Bank offers market leading rates on its secured loans
21 March 2012
Following specific feedback from our broker partners, Shawbrook is pleased to announce that it has enhanced its Platinum secured loan products. These products offer a viable alternative to mainstream re-mortgaging, and in many cases enable customers to retain competitive mortgage deals whilst obtaining the shorter term finance they need.
Key features of the product changes include;
- Increased maximum advance to £125k (Gross Loan)
- Reduced the rates for employed applicants by 1%
- Increased the DTIR for employed applicants to 42.5%
- Adjusted commission payable to 0.5%
- Increased the minimum risk score to 450
Shawbrook’s homeowner loans can be used for a number of purposes such as home improvements, refinancing of other more expensive forms of credit or to pay for special one-off items like a wedding or a long-planned holiday. Secured loans have no costly early repayment charges and combined with the ability to tailor the term to serve a specific loan purpose, are fast becoming a very effective and flexible solution for many customers.
Maeve Ward, Head of Sales, secured lending at Shawbrook Bank said:
“Brokers lie at the heart of Shawbrook’s operations; and we are very committed to listening to their feedback. We are confident that the new product features will helps us support the renaissance of the secured loan market.
At Shawbrook we are passionate that secured loans are a vital component of a healthy mortgage market in the UK, and will do all that we can to ensure the specialist brokers and advisors in this market can thrive.”