New offering targets SMEs
Specialist lending bank Shawbrook has launched a new mortgage product designed for small businesses looking to purchase or refinance the premises they operate from, or to raise capital for growth.
The lender said the Commercial Trading mortgage expands its commercial lending range by offering a straightforward option focused on the needs of trading businesses. Loan amounts are available up to £1.25 million, with interest-only terms available for up to 12 years. The lending criteria are centred on repayment affordability and the quality of the property asset.
Rates start from 6.59%, with loans available from £150,000 to £1.25 million. Borrowers can choose between variable or fixed rates over two, three, or five years. The product offers up to 75% loan-to-value, with the option of interest-only terms for up to 12 years and part or full capital repayment terms extending to 25 years.
The product launch follows Shawbrook’s own research indicating that 46% of SMEs currently use commercial mortgages, while one in five plan to explore this type of finance in the future. The lender said the new mortgage builds on its existing experience and aims to provide small businesses with more flexible financing options.
“Commercial trading is part of Shawbrook’s DNA, so it made perfect sense to introduce a specialist mortgage product tailored to this growing need,” said Daryl Norkett (pictured), director of real estate proposition at Shawbrook.
“We’ve designed it with simplicity – helping clients secure the finance they need quickly and efficiently for their business premises. Brokers will also benefit from our enhanced application journey, creating a smoother, more cohesive experience for both them and their clients.”
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