Shawbrook did have 10 BTL products and refreshed the range in late 2019 to seven, it is now down to three.

BTL has been designed for property investors looking to borrow under £750k, while those looking to borrow more, or for portfolios and small HMOs, will fit into the Complex BTL product.

The final product, Large HMO, will target those looking to purchase or refinance a house in multiple occupation (HMO) with seven or more occupants.

Interest rates have been adjusted accordingly to the new products, which now start from just 3.25%.

In addition, Shawbrook has launched a new buy-to-let online application form available for all BTL and HMO applications that have received an Indicative Mortgage Offer. This should help the application process be as quick and effortless as possible.

The online form will pull through information that has already been provided by the broker during the initial stages, removing the need to re-key this data when progressing the case.

With constant interruptions being commonplace in the busy day-to-day of a typical broker, an autosave feature has also been built in so the user can come back at a later stage without any progress being lost.

Once completed, the broker will receive a PDF copy of the application for their records making for a much improved experience.

Emma Cox, sales director – property division at Shawbrook Bank, said: “After hearing the positive feedback around our refresh late last year, we immediately looked to take another step towards further improving the broker and customer experience with Shawbrook.

“It’s crucial to ensure complete clarity for the broker community when it comes to one’s products, and we feel this simplification really ticks that box to make us even easier to do business with. 

“With a digital application form now available to our brokers that has received glowing feedback so far, I’m delighted with the positive start we have made to 2020.”