Shawbrook launches new commercial trading mortgage product to support SMEs
Shawbrook today announces the launch of a new Commercial Trading mortgage product, offering to help small businesses purchase or refinance the premises from which they trade, or raise funds for business expansion.
This addition strengthens Shawbrook’s existing commercial offering by providing a straightforward solution tailored to the needs of trading businesses. Loans are available up to £1.25m, with interest only terms of up to 12 years, and simple criteria focused on the affordability of repayments and the quality of the underlying property asset. Borrowers will benefit from faster decisions, reduced documentation requirements, and an efficient path to completion. Shawbrook’s existing completions processes are available, including non-represented legals for refinances and the use of the title insurance for eligible cases.
Demand for the right funding solution continues to increase, with the specialist lender citing in recent research that 46% of SME businesses are currently using commercial mortgages, with 1 in 5 planning to use this type of finance in the future. Shawbrook has a long and successful history in supporting the market with commercial mortgages, and the new product expands their capabilities by providing an alternative funding option for small businesses looking to purchase, refinance or expand.
Product features:
- Rates from 6.59%
- Loans from £150k – £1.25m
- Variable rates and 2, 3 & 5 year fixed rates available
- 75% Max LTV
- Interest only terms of up to 12 years, full or part-capital repayment terms of up to 25 years
Daryl Norkett, director of real estate proposition at Shawbrook, commented: “Commercial trading is part of Shawbrook’s DNA, so it made perfect sense to introduce a specialist mortgage product tailored to this growing need. We’ve designed it with simplicity – helping clients secure the finance they need quickly and efficiently for their business premises. Brokers will also benefit from our enhanced application journey, creating a smoother, more cohesive experience for both them and their clients.”