Shawbrook publishes commercial SLAs
Shawbrook Bank’s commercial mortgages division has published its service level agreement figures for December, revealed it processed 2,819 term loans and 1,044 short-term loans.
Processing times maintained their November performance, with 99% of term loan new applications dealt with in 72 hours or less, while 86% of short-term applications were responded to within four hours.
All short-term applications were processed fully in under 48 hours.
Valuation times saw a continued improvement in December, reflecting an upward trend which has been sustained since additional resource came on board in October.
Pure Law, Shawbrook’s legal partners, finished 2015 with 29% of non-rep refinance term deals turned around in 10 days.
Karen Bennett, sales and marketing director of commercial mortgages at Shawbrook Bank, said: “It is reassuring to see that our panel of broker partners and Shawbrook teams succeeded in finishing 2015 in such a positive way.
“We still see these monthly statistics as essential in forging an ever closer relationship with our broker partners, ensuring clarity for their clients whilst providing key data on our performance.”