Shawbrook completes TML buyout and launches BTL platform

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  • 18/05/2021
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Shawbrook completes TML buyout and launches BTL platform
Shawbrook Bank reported continued investment in technology, including the introduction of its buy-to-let platform targeting easier case management, in its Q1 trading update.

 

On the business finance side, it has rolled out its digital tools intended to enhance and automate customer journeys and for consumers, a new credit scorecard and price testing has been implemented.

The specialist lender reports a strong financial and resilient operational performance over Q1 2021 and reports the completed acquisition of TML.

At the time, Shawbrook said it intends to retain both brands with growth plans for TML strengthened by access to Shawbrook’s retail savings arm.

Shawbrook Property finance managing director John Eastgate said the combination of the two businesses creates an even more powerful force in the specialist lending market.

He added: “The experienced TML leadership team will strengthen our existing management as we enhance our presence in the specialist lending market.”

The bank reported loan book growth of 5.4 per cent to £7.5bn, driven by improving origination levels and demand from new-to-bank property finance and business finance customers.

It also cited ‘positive movement in arrears’ trending towards pre-pandemic levels, following the wind-down of payment holidays.

Ian Cowie, chief executive, said: “We have continued to invest heavily in our digitisation agenda, introducing a new buy-to-let origination platform in property finance and building significantly scaled automation tools in business finance to ease the customer journey, in-life management and portfolio analytics.”

He added: “With an improving economic backdrop, strengthening demand for our specialist lending proposition, a robust capital position and a strong funding base, we are ideally placed to build on this continued momentum throughout 2021 and into 2022.”

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