Shawbrook announces record-breaking quarter for commercial mortgages

The challenger bank’s third quarter was its most successful to date in terms of completions, while September was Shawbrook’s second most successful month in terms of originations.

The results follow changes to Shawbrook’s team structure, processes and technology platforms in a bid to make the transaction of business more efficient. 

Shawbrook saw 39% of applications via its new E-AIP application service result in brokers receiving an instant indicative mortgage offer for their clients.

Emma Cox, sales director at Shawbrook commercial mortgages, said the investment the bank had made to its teams and technology was part of its strategy to provide good outcomes for borrowers.

“In spite of a challenging year with regard to the new tax regime, the complexities of Brexit and the PRA [Prudential Regulation Authority] consultation, our strong appetite to lend remains in comparison to some who have pulled back in several key markets.

“The changes we make come about as a result of direct feedback from our broker partners and we make a point of considering any and all suggestions. 

“Senior management is committed to this philosophy and we are confident that our brokers will continue to see the benefits of a long-term, two-way relationship.”

Shawbrook has expanded its underwriting team to boost resources as it reaffirms its appetite to lend in what remains a challenging marketplace. 

David Tonks, director of Shawbrook strategic partner Advocate Finance, said Shawbrook had faced the unpredictable challenges in the market head on. 

“I deal regularly with the commercial mortgages team and have been impressed by their ongoing commitment to both broker and borrower. 

“It is not surprising that they continue to win accolades for their performance, not to mention continually achieving new lending milestones such as their most recent record-breaking quarter.”