A new portal set up by a leading buy to let mortgage provider claims it will “revolutionise” the borrowing process for landlords.
Shawbrook Bank claims that its new portal offers instant indicative mortgage offers, including automatic property valuations where applicable, and will enable quicker, more consistent and more reliable credit decisions to customers, based on actual valuation data.
The portal streamlines the application process by integrating with the likes of Companies House and Hometrack, reducing the need for additional inputting and research by applicants.
Ahead of the launch, Shawbrook worked with key strategic partners to pilot the technology and understand the strengths for both its brokers and underwriters.
During this period Shawbrook has seen some cases move to formal mortgage offer in 24 hours and complete in seven working days.
Shawbrook has also expanded its underwriting and support teams, recruiting 11 new team members over the past six weeks.
Claire Rankin, director of strategy and digital transformation at Shawbrook Bank, says: “We’re proud to unveil our ground-breaking new portal to the wider market, following a successful pilot programme. This is a key milestone in our digital journey, aimed to transform the mortgage process for both brokers and customers.
“We want to provide an easy and frictionless journey and to achieve this, we need to strike the perfect balance of advanced technology and expert people. These are both areas we have made significant investment in over recent months and we’re excited for our brokers to reap the benefits.
“MyShawbrook Buy-to-Let aims to support all types of cases, from single dwelling applications, right through to the more complex, large portfolio cases – we look forward to providing a more efficient process to the buy to let market.”
Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.