Shawbrook has launched Product Transfers to streamline the fixed-rate renewal process for existing customers. 

It 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 investor clients to choose a new fixed rate with no underwriting required.

Daryl Norkett, Director of Real Estate Proposition at Shawbrook, comments: “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 adds: “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.”