Some 18 brokers have been selected initially for the strategic partner programme based on the particularly high quality of their applications presented to Shawbrook.
The programme has a clear set of criteria against which strategic partners are measured, including the level of conversion rates achieved on initial submissions and ultimate conversion to successful loan completion.
Strategic partners will receive exclusive process and marketing benefits as well as a higher commission structure to reflect the lower processing costs associated with completing the business they submit.
The announcement coincides with the release of 13 tailored loan products which each of the strategic partners will have access to ahead of Shawbrook’s wider network of broker partners.
The products cover a range of sectors, including residential investment property, commercial investment property and trading businesses.
The products have been developed following feedback from Shawbrook’s broker partners and are intended to help brokers understand in greater detail the credit appetite of the bank and extend the range of lending solutions available for clients.
They are short-term finance for acquisition, short-term finance for light refurbishment, medium term finance for light refurbishment, residential investment loans, commercial investment loans and trading business loans.
Stephen Johnson, managing director of commercial lending at Shawbrook Bank, said: “Brokers are a lynchpin in our business and we value their knowledge and market expertise.
“For our brokers and for Shawbrook, efficiency is key to completing deals and we launched the strategic partner programme to recognise and encourage the highest quality of business. We are excited to be able to reward the highest performers whilst remaining firmly committed to working with all of our broker partners.
“We have an ambitious plan for growth and are looking to work as efficiently as we can to ensure we deliver the highest quality of decision making and an efficient completion process. Our new suite of products dramatically extends the scope of our lending and is the result of regular discussions with our broker partners – whose input has been vital in shaping the criteria and product features.
“We are committed to working with brokers and intermediaries to provide straightforward, no-nonsense banking to businesses and individuals in the UK. We remain convinced that conditions are very favourable for a new bank that is well funded, free from legacy problems and committed to delivering the best possible customer service.”