Shawbrook has released an online self-service platform that should reduce flight times from application to offer for buy-to-let customers that require a like-for-like product switch.
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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS