“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”
– Daryl Norkett – Shawbrook
Shawbrook has announced that it has launched 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.
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.
Switch & Fix
The latest offer from the lender follows Switch & Fix which launched last summer. This includes a range of 2, 3, 5 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.
“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,” explained Daryl Norkett, Director of Real Estate Proposition at Shawbrook.
He added, “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.”
“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.”
Claire Rankin, Director, Specialist Lending, Real Estate at Shawbrook said, “With our new Product Transfer offering, we’re able to provide a process familiar to the residential and Buy-to-Let market but with the enhanced and unique capability to extend this to our Commercial mortgages as well. This provides an unrivalled customer experience – and it’s just the beginning. We have some fantastic enhancements scheduled for later this year that will continue to elevate our offering for existing customers.”
