Shawbrook adds bridging products to digital portal

The addition of MyShawbrook bridging will “streamline the entire bridging application process”, according to the lender.

Brokers will be able to access instant integrated valuation and credit-backed heads of terms. They can also instruct solicitors during the agreement in principle stage.

The portal has a maximum loan calculator so brokers can get a better understanding of how much Shawbrook can lend to customers, even if there is more than one loan requested.

Shawbrook’s portal also has integrations with Experian, Companies House, Hometrack, Whenfresh and CLS, which it says will reduce the need to input extra data and documentation.

Shawbrook’s bridging products will also be available, with rates starting from 0.4 per cent per month with no early repayment charges. It will offer up to 85 per cent loan to value for refurbishment loans.

The addition of bridging to its digital portal comes after MyShawbrook buy-to-let portal was launched last year.

Claire Rankin, director of strategy and digital transformation at Shawbrook Bank (pictured), comments: “This development is another way to showcase the investment Shawbrook is making in tech and our aim to make the offer process as smooth and straightforward as possible for customers and broker partners.”

She added that the bank was committed to improving its technology to “make a real difference to our clients” as well as “applying our market expertise with complex cases”.

Rankin said: “We’ve shown in the past year  the difference that technology can make to the mortgage market with MyShawbrook buy-to-let, it has allowed us to provide a frictionless journey to customers in a way that suits them.

“No longer should customers expect to wait weeks on end for an offer to come through and get lost in numerous forms and paperwork. Making the process digital from the outset is just one way Shawbrook is bringing the mortgage market into the modern day.”