Daryl Norkett

Shawbrook updates minimum personal guarantees

Shawbrook Commercial Mortgages has announced new 25% minimum personal guarantees.

The specialist lender expects to offer more flexibility to landlords through this new offering, which is available across its non-refurbishment STL, specialist BTL (including large loans) and commercial investment product ranges.

This marks a reduction from the previous requirement to personally guarantee 100% of the loan.

Daryl Norkett, head of products and markets at Shawbrook Commercial Mortgages (pictured above), said: “We are delighted to announce a new and fresh approach to personal guarantees.

“While remaining an important part of the limited company lending package, demonstrating a borrower’s commitment to a loan, it has never been more timely to ensure a fair deal on security between lender and borrower, with a large majority of the Shawbrook property division’s borrowers now being limited companies.

“Building transparent and mutually beneficial partnerships with professional investors is in Shawbrook’s DNA and our new approach to personal guarantees builds on the success of our ‘customer appetite statement’, which has enabled us to support the property funding journey.”

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