Shawbrook has made a series of updates to its commercial mortgage products while Aldermore has launched new buy-to-let (BTL) limited editions for landlords, alongside other changes.

Shawbrook’s changes include rate reductions of up to 0.70% on its two-, three-, and five-year fixes.

The bank has also reduced its minimum debt service cover ratio (DSCR) from 130% to 125% for individual and limited company borrowers on commercial property and limited companies investing in semi-commercial assets.

This change is designed to make it easier for brokers to access a wider range of products for their clients, particularly on shorter-term two- and three-year fixed rates.

Shawbrook director real estate proposition Daryl Norkett says: “The reductions to our fixed rates and DSCR requirements will help investors seize opportunities, with access to the right solutions at the right time.”

“With more investors re-entering the market or diversifying their portfolios by adding higher yielding properties, we’re proud to continually enhance our proposition to support brokers and their professional property investor clients.”

Elsewhere, Aldermore has launched new BTL limited editions for landlords and reduced rates across its owner occupier range for both new and existing customers looking to product switch.

For new customers, residential owner occupier level 2 products on two-, three- and five-year fixes have been cut by up to 0.25%, with rates now starting from 5.45%.

Level 1 products in the same range across two- and three-year fixes have been lowered by up to 0.21%, with prices now starting from 5.08%.

The lender has also launched new BTL limited edition products for individual and company landlords with single residential properties. This includes a two-year fixed rate at 75% loan-to-value (LTV) with zero fee and a rate of 5.79%.

It has also added a new limited edition multi property product for individual and company landlords with residential investment property portfolios. This includes a two-year fixed rate at 75% LTV with no fee and a rate of 5.74%.

For existing customers, residential owner occupier prices have been reduced. Two-year fixed rates have been cut by up to 0.21% to start from 5.48% while five-year fixed rate have been lowered by as much as 0.15% to start from 5.29%.

Aldermore director of mortgages Jon Cooper comments: “Our recent financial results reflect the continued strength and momentum of our Property business over the past year.”

“We’re fully focused on building on that success, with a clear commitment to supporting our broker partners through competitive rates, compelling criteria, and a service that’s both personable and tailored to the unique needs of every case.”