The lender said flight times had been decreased to 48 hours with the My Shawbrook Portal, which has been built to improve the experience for broker partners.
Mortgage Solutions has contacted Shawbrook to ask how long the transfer times were before the introduction of the portal.
Its like for like product switch is offered with no arrangement or product fee, while the introducing broker partner will still receive a commission determined by the customer submission preference on every case that completes.
The portal allows the bank to assist its brokers’ retention activity as it gives control of the 10 minute application to the customer, but sets out to keep the broker involved in the process.
Emma Cox, sales director for the Shawbrook Property Division, said: “A huge amount of work has gone into the design and development of the portal based on extensive feedback from our network of brokers, and our own research.
“This was one of the main requirements of the scoping phase and we were conscious that, although as a regulated bank we are obligated to provide ongoing product solutions for customers, we also have an obligation to our core distribution around which we have built this business.”