The intermediary lender formed the dedicated desk in response to a significant increase in demand for short-term loans and its expanding range in this area of the market.
Stephen Johnson, managing director of commercial mortgages at Shawbrook, said: “Time is of the essence when it comes to short-term loans and brokers need a lender who is extremely responsive and can get deals turned around within a day.
“Our team is made up of specialists who are acutely aware of the needs of brokers working under very tight time constraints. We’re excited about expanding capabilities in this fast-moving market.”
The team will be able to take deals from the enquiry stage right through to completion. All decisions will be mandated within the team ensuring a rapid turnaround for time-sensitive loans.
Lucy Hodge, director at Vantage, believes the creation of the team will be a competitive advantage for Shawbrook.
He said: “I welcome Shawbrook’s decision to separate the short-term loans from the term commercial mortgages. In the fast-paced world of short-term loans a dedicated process is important and this team will help streamline it further. I look forward to watching the team evolve and working with them in the future.”