Shawbrook kicks off return to pre-pandemic lending

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The mortgage had been temporarily pulled because of the impact of coronavirus on the construction industry supply chains.

As well as introducing these products at a maximum loan-to-value (LTV) of 75%, Shawbrook is also resuming its full eAIP service, which will mean eAIP approvals no longer require manual configuration.

Along with this they have removed additional assessments that were temporarily required for buy-to-let and loans over 65%.

Meanwhile, the lender also announced it had increased the maximum LTV from 75% back up to 85% on its second charge mortgage range and had reduced the minimum loan amount to £5,000 for LTVs between 75.01% and 85%.

Emma Cox, sales director at Shawbrook said: “The impact of the pandemic on the market was felt widely across the lending landscape, leading some to withdraw from the market altogether, and others to tighten their belts.

“I am pleased that Shawbrook fell into the latter category, only making temporary adjustments to ensure we could continue to support our brokers as much as possible throughout this challenging time.

“Whilst we are not in a position to return all of our criteria to pre-Covid levels, we are delighted with the steps we have taken to ensure we can support more of our customers and create a better journey for our broker partners.

“Reintroducing our Heavy Refurb products, increasing our max LTV on our second charge range, and resuming our full e-AIP service are all such positive changes and I hope will be welcomed by our broker community.”