The brokerage reached out to Shawbrook on behalf of an experienced client that was seeking a BTL loan for its two-bed detached bungalow that was built from structural insulated panels (SIPs), after it was turned down by two other lenders.
While the non-standard construction type fell outside of the bank’s criteria, the individual merits of the case and the property’s marketability were both considered.
The new-build property is in a desirable commuter village and deemed highly energy efficient by the valuer.
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Shawbrook offered the customer a £210,000 loan on a 11-year term, interest-only on a five-year fixed rate at 50% LTV.
Gavin Seaholme, head of sales at Shawbrook Bank (pictured above) said: “A case of this kind demonstrates Shawbrook’s specialist approach to lending and consideration of the bigger picture.
“While this property, made using non-standard materials, technically fell outside of Shawbrook’s lending guidelines, we could see the clear opportunity.
“As a result, we adapted our criteria to clarify our appetite for ‘greener’ construction methods.”