hello and welcome to our look ahead to what the the papers will be bringing us tomorrow. with me are rachel cunliffe, deputy online editor at the new statesman and katy balls, deputy political editor at the spectator. just to bring you at home at the date on the front pages. another tough day for borisjohnson on the front of tomorrow s papers. a yougov poll for the times suggests the conservatives have slumped to their worst rating in 11 months. another day another lie is the headline on the front of the mirror. the paper says the pm is accused of being untruthful over how refurb costs of his downing street flat was paid for. staying with that story and the telegraph is reporting that the pm s standards adviser, lord geidt, is on the verge of quitting, after accusations borisjohnson misled him over the refurbishment of his flat. about 50 tory mps are prepared to vote against new restrictions, reports the daily mail. the mps describe the plan b
Shawbrook brings back 85% LTV on residential BTLs
By Roger Baird 2
nd February 2021 4:11 pm
Shawbrook has brought back borrowing of up to 85 per cent loan to value on residential Buy-to-Let properties when lending for refurbishment costs.
The challenger bank offers this loan through the reintroduction of its unregulated bridging Lending for Refurbishment Costs product.
The product was temporarily withdrawn last year following the impact of the pandemic, which saw the housing market grind to a halt last spring.
However, the lender says “as demand and confidence in the bridging market continues to grow, Shawbrook has returned the offering”.
The number of house purchase approvals made in 2020 came to 818,500 in 2020, according to data from the Bank of England released this week, a 13-year high.
Shawbrook Bank has reintroduced their unregulated bridging ‘Lending for Refurbishment Costs’ product, allowing them to offer up to 85% LTV on residential buy-to-let properties when lending for refurbishment costs.
The product was temporarily withdrawn last year in response to the impacts of COVID-19, but Shawbrook has returned the offering to further support brokers and their clients.
The change follows a series of recent enhancements, including streamlined LTV bands and reduced pricing.
Gavin Seaholme, head of sales for Shawbrook’s Property Finance division, said: “Lending for Refurb Costs is a key part of our product offering and one that is well received by our broker community, so we’re really excited to bring it back.