Ian Cowie

Shawbrook streamlines property division

Shawbrook has restructured its property finance division to combine its second charge and commercial mortgage businesses.

It will be led by John Eastgate, who joined as the new managing director of the property finance division earlier this month.

John previously served at OneSavings Bank, and in his new role he will take over the secured lending arm from Jeremy Law, who is set to leave the bank in the summer.

The new leadership framework has been designed to deliver an improved experience for both brokers and customers.

Ian Cowie, CEO at Shawbrook (pictured above), said: “I’m delighted to announce John’s arrival at the bank and look forward to working with him as we enhance our property finance proposition and grow further within our chosen markets.

“The second charge offering has a long history with Shawbrook and we are pleased to give it renewed focus within a simplified structure.

“Jeremy has been instrumental in helping us reshape this key element of our overall mortgage proposition — I would like to thank him for his contribution to Shawbrook and wish him well in his next challenge.”

John added: “I’m excited to take on the bigger challenge and look forward to building an all-encompassing property offering for the bank.

“There are many areas where the commercial and residential businesses cross over in terms of people, process and technology, and focusing on creating a more connected picture will be one of my first tasks.

“I look forward to enhancing the reputation of two businesses that already have a strong standing within the industry and am confident that we have the people to deliver this to the intermediary, property investor and SME market.”

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