Shawbrook Bank has simplifies its buy-to-let range and launched a new buy-to-let online application form.
Its previous refresh in late 2019 simplified the buy-to-let range from 10 to 7, but this now stands at a total of three simple products; Single buy-to-let, Complex buy-to-let and Large HMO.
Single buy-to-let has been designed with property investors looking to borrow under £750k in mind, whilst those looking to borrow more, or for portfolios and small HMOs, fitting into the Complex buy-to-let product. The final product, Large HMO, will target those looking to purchase or refinance a HMO with seven or more occupants.
Interest rates have been adjusted accordingly to the new products, which now start from 3.25%.
Alongside this announcement, Shawbrook has also launched a brand new buy-to-let online application form. This is now available for all buy-to-let and HMO applications that have received an Indicative Mortgage Offer.
The online form will pull through information that has already been provided by the broker during the initial stages, removing the need to re-key this data when progressing the case.
An autosave feature has also been built in so the user can come back at a later stage without any progress being lost. Once completed, the broker will receive a PDF copy of the application for their records making for a much improved experience.
Emma Cox (pictured), sales director – property division at Shawbrook Bank, said: “After hearing the positive feedback around our refresh late last year, we immediately looked to take another step towards further improving the broker and customer experience with Shawbrook.
“It’s crucial to ensure complete clarity for the broker community when it comes to one’s products, and we feel this simplification really ticks that box to make us even easier to do business with.
“With a digital application form now available to our brokers that has received glowing feedback so far, I’m delighted with the positive start we have made to 2020.”