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Shawbrook Bank’s John Eastgate to depart – exclusive

  • 24/11/2021
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Shawbrook Bank’s John Eastgate to depart – exclusive
Shawbrook Bank’s John Eastgate (pictured) will leave the bank at the end of the month after nearly three years, Mortgage Solutions understands.


Eastgate joined Shawbrook Bank in 2019 as managing director for its property finance division, where he oversaw its commercial and residential mortgage offerings.

He joined the company from One Savings Bank where he was sales and marketing director for nearly seven years.

Prior to that he was sales and marketing director for just over four years at Saffron Building Society and  worked at Experian Decision Analytics for around five years in various roles, including head of banking and had senior roles at Broad Vision and Barclays.

A Shawbrook Bank spokesperson said: “John has made a significant contribution to the bank, employing his experience and expertise to help bring the organisation to this point in the journey, and we wish him well for the future. John is in the process of handover following which he will leave the bank at the end of the month.”

Eastgate’s successor and onward move remain unconfirmed.

Shawbrook Bank launched in 2011 and operates across property finance, business finance and consumer lending.


Balance sheet


In its results for the first half of this year, the firm said that its property finance loan book, which covers commercial and residential mortgages, grew by 15.7 per cent to £5.6bn. It said that the property finance loan book represented 70 per cent the group’s loan book.

It added that it delivered around £1.2bn in new lending in the first half of this year, which is up from £647m in the first half of last year.

Shawbrook Bank also completed its acquisition of The Mortgage Lender in February this year, having had a minority stake in the business since 2018. In January the business funded TML’s re-entry into the specialist first charge residential mortgage market.

This year the bank launched its MyShawbrook portal, a new buy-to-let platform for broker partners, and enhanced its larger loan proposition, introduced a lending for refurbishment cost product, cut the number of loan to value bands and improved its second charge mortgage proposition.

In its half-year report it said that “solid foundations” were in place for its property finance business to continue to grow and investment in digitalisation would be key in delivering this.

It said: “Investment plans for H2 2021 and beyond will continue this journey and, whilst H1 2021 undoubtedly benefitted from buoyant market conditions, we are confident that the strength of our underlying proposition will create sustainable competitive advantage.”

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