What loans does Shawbrook offer?
If you’re looking for a personal loan, it’s worth exploring the whole market to find the best deal for you. Here we look at what Shawbrook has to offer
Who is Shawbrook?
Shawbrook Bank, established in 2011, is a UK-based retail and commercial bank offering a range of financial services. These include personal loans and savings accounts.
As well as serving individuals, it focuses on providing loans to small and medium-sized enterprises (SMEs) – particularly property investors – that may face challenges securing financing from traditional commercial banks.
The bank claims to pride itself on transparency, offering clear and competitive rates based on individual circumstances.
What types of loans does Shawbrook offer?
Shawbrook Bank offers a range of financial products tailored to both personal and business needs. These include loans designed to support various personal financial requirements:
If you’re looking to purchase a new or used vehicle, Shawbrook's car loans offer flexible financing solutions, enabling customers to manage their repayments effectively.
Homeowners looking to renovate or enhance their properties can apply for a home improvement loan to complete the work.
Debt consolidation loans allow customers to merge multiple debts into a single, manageable monthly payment, potentially reducing overall interest costs and easing financial stress.
Planning a wedding can be financially demanding and a wedding loan can provide the necessary funds to cover expenses, ensuring that couples can focus on their special day with no immediate financial concerns.
Shawbrook supports small and medium firms by offering a range of business lending products designed to accelerate their growth and help with investment in critical assets.
For property investors, Shawbrook can assist in purchasing new investments, refinancing existing portfolios, or raising additional funds to expand property businesses, catering to both residential and commercial property ventures
Car loans
Home improvement loans
Debt consolidation loans
Wedding loans
Business lending
Property finance
How much can I borrow with Shawbrook?
You can borrow from £1,000 to £50,000 and pay it back over one to seven years.
What is the eligibility criteria?
The basic criteria you'll have to meet before your Shawbrook application can be considered includes:
Being aged 21 to 75
Having been a UK resident for at least three years
Having an annual income of at least £15,000
Having a personal bank account in the UK
Having a good credit history with no outstanding County Court Judgement (CCJ)
How quickly will I receive the money?
If your loan application is successful, Shawbrook promises that funds will be transferred into your nominated bank account within three working days.
Are there any fees or charges?
There is no set-up fee for a personal loan, but an early redemption fee may apply which, as outlined in the Consumer Credit Act, could be up to 58 days interest.
Can I take out a joint loan with Shawbrook?
Yes, Shawbrook offers loans for joint applicants.
Can I use a guarantor for my loan?
Unfortunately not. Shawbrook does not offer guarantor loans.
What credit agencies do Shawbrook use?
Shawbrook uses Equifax and TransUnion (formerly Callcredit) as its reference agencies. Credit agencies provide an overview of your financial history and help lenders make decisions on whether to approve your credit application and what rates to offer you.
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