Shawbrook sees increase in short-term loan popularity
Shawbrook has completed over 90 short-term loan cases in September and October – three times its average monthly number according to the bank.
Its STL1 product is most popular, having seen 85% growth since October 2013, while this is followed by STL4 light refurbishment product.
Karen Bennett, sales and marketing director for commercial mortgages, said: “As the mercury reached high levels for autumn, Shawbrook’s short-term loans were also hot property.
“It’s been great to see this response to our range and we’re proud to be able to help our brokers and clients across the country bring reinvigorated and valuable properties to the market at a rapid pace.
“We look forward to November and December rounding off an extraordinary year for us.”