After the bank instructed partner Appraisers UK to engage a valuer on its panel, it became clear that there was a problem regarding planning arrangements.
This centred on whether the relevant consent had been obtained with regards to the conversion on two of the apartments.
The property had also quadrupled in value since their original purchase.
The Shawbrook lending and credit teams considered the case on its individual merits, and after satisfying themselves that the quality of conversions was high alongside a sensible LTV percentage, were able to proceed.
The Shawbrook lending team also noticed several issues with the current lease agreement including a discrepancy between the tenant’s name which was listed differently from the correct legal entity.
After receiving confirmation that this would not adversely affect the valuation, Shawbrook was able to instruct the solicitors to proceed to completion within two business days.
James Hardwick of Charleston Financial Services, who brokered the deal, said: “Once again, we were very impressed with the personalised service provided to our client by Shawbrook Bank.
“As a strategic partner, we’ve grown accustomed to the expertise and proactive case management skills of their lending teams, as well as the open communication channels between the bank, their solicitors Pure Law and their valuer panel.
“Day-to-day discussions between Charleston and Shawbrook led to several group credit policy exceptions being agreed throughout the underwriting process, which was fundamental in achieving a really positive outcome for the customer.”
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