Shawbrook has launched ‘Switch & Fix’, a refinance process to help existing customers switch from an expiring fixed rate to a new loan with a new fixed rate.
Switch & Fix was launched to reduce the need for new documentation, as in many cases neither a valuation nor solicitors’ instruction is required.
This product is available to existing buy-to-let (BTL) and commercial investment customers if the contractual loan term, borrower details, security properties, and loan amount remain unchanged.
Switch & Fix also forms part of a suite of options for existing customers, including Product Switch for end-of-term extensions and Shawbrook Refinances for altering deals or raising capital.
These options come with a 1% reduction on the standard arrangement fee for existing customers.
Daryl Norkett, director of real estate proposition at Shawbrook, said: “Switch & Fix underscores our commitment to making the refinancing process as seamless as possible for our customers and their brokers.
“In a volatile market, selecting a new fixed rate has never been more critical.
“We’ve designed Switch & Fix to help customers secure new rates, including on more complex loans and commercial mortgages, while minimising costs and friction.
“We are excited to see our customers take advantage of this new offering and look forward to supporting their future growth.”
