Shawbrook Bank has worked with Watts Commercial Finance to provide formal mortgage offers to two customers within three working hours of receiving the applications, using its new digital portal, MyShawbrook Buy-to-Let.
Both cases, in which speed was critical, received instant indicate mortgage offers (IMOs), followed by successful automatic property valuations (AVMs).
Upon receiving the full applications, the formal offers were issued in three working hours and the customers then made use of Shawbrook’s e-Signature technology, allowing them to e-sign and return their offers within 15 minutes of receiving them.
Both cases qualified for Shawbrook’s new ‘Non-Portfolio’ product, which launched last week. The offering, with a rate of 3.69%, has been designed to accompany the enhanced digital application process and supports non-portfolio customers who qualify and proceed with an AVM.
Emma Cox (pictured), sales director at Shawbrook Bank’s Property Finance division, said: “These cases demonstrate exactly the type of effortless and efficient journey we’re aiming for, and there will be plenty more examples of this over the coming weeks and months.
We’ve made significant enhancements to our Buy-to-Let offering with the introduction of a slick new portal and a complementary new product, so I am delighted to see our customers and brokers benefiting in this way already, and we have some more exciting improvements to announce soon.”
Emma Ross, commercial manager at Watts Commercial, add=ed: “Formal offers within hours are timescales that are practically unheard of, so to receive not just one, but two is fantastic. Shawbrook’s new portal has made the application process so smooth and efficient, and if we receive a fast and easy experience, so do our clients, which is what we as brokers aim for.”
