Shawbrook has released a new online system which allows product switches to be completed in 48 hours.
The ‘My Shawbrook Portal’ aims to reduce flight times from application to offer for buy-to-let (BTL) customers that require a like-for-like product switch when nearing the end of their mortgage term.
The portal has been built to deliver an enhanced customer journey whilst hoping to improve the experience for Shawbrook’s network of broker partners.
‘My Shawbrook Portal’ also allows the bank to assist its brokers retention activity by ensuring clear communication and efficient digital processes for the product switch, giving control of the 10 minute application to the customer, but keeping the broker in the loop to deliver an offer in 48 hours.
Emma Cox, sales director for the Shawbrook Property Division, said: “A huge amount of work has gone into the design and development of the portal based on extensive feedback from our network of brokers, and our own research.
“What we have produced distinguishes us in the specialist space and delivers a dramatically enhanced customer experience that takes nothing away from our broker partners.
“This was one of the main requirements of the scoping phase and we were conscious that, although as a regulated bank we are obligated to provide ongoing product solutions for customers, we also have an obligation to our core distribution around which we have built this business.
“I firmly believe that we have been successful in achieving both these objectives, and that our brokers will benefit from an additional point of difference when future clients are looking for a funder with an active desire to support them over the long-term.”
The like-for-like product switch is offered with no arrangement or product fee.