The changes include up to 90% day-one loan-to-value (LTV) on lending for refurbishment costs (LFC), reduced pricing across selected bridging products and a range of underwriting enhancements.

The threshold on smaller loan products has been reduced from £150,000 to £100,000, delivering rate reductions of up to 0.20% per month for loans between £100,000 and £150,000.

Loans above £150,000 will also benefit from reduced pricing, with rates now starting from 0.69% per month.

In addition, Shawbrook has simplified a number of underwriting requirements.

CLS title insurance is now available on LFC facilities, commercial bridging no longer requires previous experience subject to a satisfactory exit strategy, and heavy refurbishment experience criteria has been relaxed.

The bank has also removed several underwriting requirements, reducing the number of documents required from brokers.

Shawbrook director of real estate proposition Daryl Norkett says: “These enhancements are designed to make it easier to access funding across a wider range of scenarios, while supporting brokers with a more streamlined application process.”

“We are particularly pleased to be extending the maximum LTV on our Lending for Refurbishment Costs product to 90% LTV. Having been pioneers in bringing this light refurbishment funding solution to market back in 2018, we’ve seen first-hand the success of this property strategy for so many investors.”