It provided a 10-year term on a gross LTV of 76% despite a 75% LTV limit across its lending range.
The challenger bank said its lending manager took a pragmatic approach to the loan and made an exception due to the strength of the application.
The customer was originally tied to a loan agreement with a high street lender before being told the bank no longer wished to retain his business.
Broker Laybourne Commercial Finance sought out Shawbrook to provide an exit which suited the client, and although there were several valuation difficulties, one was completed to schedule.
The client was then able to use Shawbrook’s non-rep refinance service which waives the right to solicitor representation.
This resulted in a quick completion and a saving for the client.
Liam Keighley, a broker at Laybourne Commercial Finance, said he was confident Shawbrook would be able to assess his client’s case while doing everything it could to make the deal happen.
“As an experienced commercial finance broker, I was pleased with the speed at which the case progressed, as was my client,” said Liam.
“Whenever there was a potential hurdle, I was able to discuss this with the residential investment team at Shawbrook to alleviate any difficulties.
“This provided clarity for all parties involved and was vital to such a positive outcome.”
Shawbrook managed to complete the deal in a little over two weeks after working closely with its partners at Pure Law.
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