Shawbrook Bank has completed a £630,000 specialist buy-to-let case in six days for an Edinburgh-based property investor.
The bank was approached by master broker Vantage Finance, one of its strategic partners, on behalf of its client who specialises in acquiring and renovating property before holding for long-term investment.
Shawbrook was able to deliver completion in just six working days from first receiving the application.
Stephen Johnson, managing director, Commercial Mortgages, Shawbrook Bank, said: “The team pulled out all the stops with this time sensitive case and we are delighted that our service enabled the client to receive mortgage funding in such a short timeframe. As specialists in the property investor market, we understand the time sensitive nature of the deals investors work on and our loan execution has been designed to help our clients succeed in the market. This application is a great showcase for what our teams can deliver.
“This client also took advantage of our refurbishment product that provides after works equity release which will enable them to continue to grow their portfolio. Some clients have traditionally had to take out expensive bridging finance and then run the gauntlet of refinancing to achieve long term funding – our refurb product takes the worry out of this process and is materially cheaper for clients.”
Lucy Hodge, director, Vantage Finance, added: “This case required a great deal of professionalism and urgency and it is a great example of how well we work with Shawbrook to achieve results and deliver a service above and beyond client requirements.
“This was not the most straightforward case due to multiple securities and the refurbishment aspect, but the fact it was completed in six days demonstrates the ability of both parties. We know a lot of lenders do not have a presence in Scotland, but we know the demand is there and are pleased to service this with a diverse offering.”