Shawbrook announces the launch of product transfers to streamline the fixed-rate renewal process for existing customers.

The new product transfers solution allows Shawbrook customers to renew the fixed rate on their buy-to-let or commercial mortgage when no additional borrowing or term extensions are required.

In just four easy steps the new offering allows brokers and their professional property investor clients to choose a new fixed rate with no underwriting required bringing a streamlined product transfer proposition to the commercial mortgage market.

The launch of product transfers builds on switch and fix, which launched last summer. It includes a range of two, three, five and 10-year fixed rate products along with reduced rates for existing buy-to-let customers with loans between £40k and £1m, highlighting Shawbrook’s continuous commitment to simplifying the mortgage experience for clients.

Shawbrook also has a refinance offering to support existing customers who wish to make changes to their mortgage or raise additional capital.

Shawbrook director of real estate proposition Daryl Norkett commented: “The success of switch & fix has been key to the launch of product transfers in demonstrating the strong demand from our brokers and customers for fixed rate options. We’ve been able to develop the platform to enable brokers and customers to choose a new fixed rate product on the existing mortgage, removing the underwriting requirements of refinancing to a new loan.”

He added: “The introduction of this offering for both Buy-to-Let and Commercial mortgages is another step towards simplifying the experience for brokers and their professional investor clients so we can provide the best possible service and a broad range of product choices.”