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Friday, December 06, 2019

News > Case Studies

Shawbrook completes BTL refinance to assist funding of new investment property

Sam Monk | 16:51 Tuesday 26th November 2019

Shawbrook has completed a £200,000 loan in 25 working days for a landlord looking to refinance their BTL property to assist with the construction of a new investment property.

The specialist bank — which worked closely with broker partner Nurture Finance and used an automated valuation model (AVM) to save the client £340 — provided the loan at 73% LTV, with a formal offer being provided in 17 working days.

The customer was also able to use the finance to repay a director’s loan, which was paid off earlier than expected as a result.

“Although the case appeared to meet all key criteria requirements, there were one or two points I felt needed addressing further, so opted for a paper application and supporting proposal,” said Adam Atkin, CEO at Nurture Finance.

“Conscious that this may slow the process down, my client and I were pleasantly surprised by the incredibly prompt response from the Shawbrook lending manger and, after providing a little more information, was in receipt of credit-backed terms in a matter of days.” 

Emma Cox, sales director at Shawbrook (pictured above), added: “With an experienced broker like Nurture Finance working side by side with the Shawbrook team, we could ensure that the case would be completed as smoothly as possible.”

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