Shawbrook completes second charge in nine days

Michael Lloyd

September 26, 2019

household finances during pandemic

Shawbrook has completed a second charge loan in nine working days for a borrower with a shortfall in home improvement funds.

Shawbrook were approached by broker partner Brightstar. Whilst in the process of building a single storey extension on a residential property, the client needed a second charge loan of just under £20,000 as soon as possible to complete the works.

Shawbrook lent the case at 65% LTV. It was approved and ready for offer within 48 hours of submission. After the client requested additional time to consider if they wanted to borrow more, they decided to proceed with the original amount.

Darren Perry, head of second charge mortgages at Brightstar, said: “The application process went very well with Shawbrook providing an offer for my clients in just nine days from the date I had first made my recommendation.

“I have been extremely impressed with the service provided on this case and others that have been submitted by my colleagues and will be more than happy to recommend Shawbrook Bank to my clients as a lender that not only offer fantastic products but also provides a service to match.”

Gavin Seaholme, head of sales at Shawbrook added: “This case highlights Shawbrook’s commitment to always improving the service we provide to our brokers and their clients.

“Although speed was of the essence, both Brightstar and our sales and underwriting team proved their talents and got the client the required funds well within the required time frame.”

Sign up to our daily email