Shawbrook has clarified to its broker partners its appetite to lend to repeat borrows by implementing a “loan exposure ceiling” which is reviewed as the relationship with the customer grows over time.
Under the title of the Shawbrook Customer Appetite Statement, these are not committed funds in the traditional sense, but rather an indication of the belief Shawbrook has in the customers’ business model, and a representation of the lenders’ appetite to consider new applications.
Emma Cox (pictured), sales director for Shawbrook Commercial Mortgages, said: This has been something we have been working on for some time and feels like a logical evolution of the way in which we view repeat customers.
“We have confidence in the way these customers do business, confidence in our broker partners and their expertise, and ultimate belief in our teams to support property professionals in this way.”
The lender expects the process to become even more efficient and increase investors’ confidence when exploring new and complementary opportunities to grow. Shawbrook specialises in the portfolio space, and this initiative will support the funding requirements of the same customer across multiple transactions.
Daryl Norkett, Shawbrook’s head of products and markets, added: “This is an exciting initiative for us and by developing a deeper understanding of this demographic’s business model, we can provide future support for new loan applications, supporting their property strategy and funding requirements.
“In turn, this will open opportunities for our Broker Partners to support these customers through a longer customer journey with Shawbrook, and we are proud to facilitate this.”
