"Having navigated the challenges posed by increasing interest rates in 2023, these adjustments aim to support investors and give them the confidence to proactively engage in the market"
- Daryl Norkett, director of real estate proposition at Shawbrook
Shawbrook has announced a series of rate reductions across its real estate product portfolio, including its buy-to-let, commercial, semi-commercial and bridging products, as well as a recently launched limited edition buy-to-let product.
From today, complex buy-to-let rates are reducing by up to 0.55%, with rates now starting from 5.69%, while digital buy-to-let rates are down by up to 0.50% with rates starting from 5.99%.
Semi-commercial rates have decreased by up to 0.35% to start from 6.79% and commercial rates have reduced by up to 0.55%, now starting from 7.44%.
In addition, bridging rates will see reductions of up to 0.10% per month, with rates starting from 0.69%.
Daryl Norkett, director of real estate proposition at Shawbrook, commented: “In response to the dynamic market conditions, we are pleased to announce a range of rate reductions, designed to empower professional investors with the tools they need to achieve their property ambitions in 2024.
"Having navigated the challenges posed by increasing interest rates in 2023, these adjustments aim to support investors and give them the confidence to proactively engage in the market, backed by a broad range of funding solutions from Shawbrook.”
