Shawbrook Bank

Shawbrook completes two formal BTL mortgage offers using new tech platform

Shawbrook Bank has provided two formal mortgage offers using its new BTL platform ahead of its official launch.

The system aims to streamline the entire application process for brokers by using the most up-to-date technology.

Applying advanced decisioning techniques and insights via API technology, the platform’s goal is to provide a quicker and more intuitive journey to credit decisions and property valuations, where eligible.

The BTL facilities — agreed on a five-year fixed term — were arranged for two BTL landlords, both with more than 10 properties in their portfolio.

The mortgage offers were arranged at 70% and 60% LTV, respectively.

The first case was completed in 48 hours after it was submitted for consideration.

All third-party checks were automatically carried out as part of the AIP process, significantly reducing the requirements of the underwriting team. 

An instant indicative mortgage offer (IMO) was then generated, alongside an AVM.

The brokerage which introduced the case, Commercial Expert, provided the necessary documentation required for a formal offer.

Emma Cox, sales director at Shawbrook Bank (pictured above), 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, commented: “The new BTL platform has made applying for a BTL 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.”

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