fbpx

Shawbrook completes mortgage offer in 48 hours using new tech platform

Jessica Bird

March 25, 2021

Shawbrook Bank has provided a formal mortgage offer to a customer within 48 hours of submission, using its new buy-to-let platform, ahead of its official launch.

The platform aims to streamline the application process for brokers by using the most up-to-date technology, providing a quicker and more intuitive journey to credit decisions and property valuations, where eligible.

While testing the new platform, a broker submitted a new case for consideration.

All third-party checks were automatically carried out as part of the application in principle (AIP) process, significantly reducing the requirements of the underwriting team, and an instant IMO was then generated, alongside an automated property valuation (AVM).

The broker then provided the necessary documentation required for a formal offer.

Emma Cox, sales director at Shawbrook Property Finance, said: “Over the last 12 months we have been investing heavily in the technology we rely on behind the scenes to help deliver the best possible service to our customers.

“The launch to our strategic partners has already demonstrated the benefits these improvements will have.

“This is just the start of a series of digital enhancements that we will be announcing in 2021 to improve broker experience and ensure a more efficient application journey for our customers.”

Daniel Brown, senior business manager at Commercial Expert, said: “The new buy-to-let platform has made applying for a buy-to-let loan quick and simple.

“The AVM system produced an instant valuation which enabled me to provide a fully backed indicative offer to my client within minutes.

“We have all been impressed by the ease of the application process and the speed in underwriting the case to mortgage offer.”


Sign up to our daily email