“We will have more product innovation to the Shawbrook STL offering coming over the summer.”
Standard 1.95 per cent fee, no exit fees and no minimum term.
Stuart Phillips, a director at Aalto Mortgages, said: "These changes are extremely welcome. My clients are keen to explore more adventurous property development strategies, but a lack of lenders supporting new investors has been prohibitive.
"Shawbrook’s willingness to consider most property types has always been a strength, but high costs have often eaten into margins."
Shawbrook’s changes may attract attention largely for the simplified choice and the price reductions. Perhaps to a lesser extent, brokers might be eyeing up the widening of criteria, particularly the fact that borrowers coming to property investment for the first time will be considered. The true litmus test will be whether the streamlined range matches the popularity of its previous incarnation.
Marcel Le Gouais is a freelance journalist