Shawbrok’s commercial mortgage division has cut arrangement fees on its term products from 1.70% to 1.50%.

Based on a loan of £350,000, this reduction would result in a client saving £700.

The reduction is available on all new Shawbrook applications with immediate effect, while it is also applicable on existing cases where a formal offer hasn’t been made.

Karen Bennett, sales and marketing director, commercial mortgages, Shawbrook Bank, said: “The reduction of our arrangement fees, alongside the additional clarity we are providing across our product range, is part of our ongoing dedication to improve our product line for our broker partners and their clients.

“Our unwavering commitment to the broker market remains and we pride ourselves on our pragmatic approach to lending to ensure good customer outcomes, as this reduction demonstrates.”