Shawbrook Bank has launched a new online system that aims to reduce the time taken for BTL customers to product switch.
My Shawbrook Portal will lessen time from application to offer for BTL customers that are looking to product switch when nearing the end of their mortgage term.
Shawbrook claimed that it would deliver an offer within 48 hours via the new platform.
The specialist bank’s product switch is offered with no arrangement or product fee, however, introducing broker partners will receive a commission determined by the customer submission preference.
According to Shawbrook, the portal will assist its brokers’ retention activity by giving control of the 10-minute application to the customer, while keeping the broker in the loop at all times.
Emma Cox, sales director for the property division at Shawbrook (pictured above), 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.
“What we have produced distinguishes us in the specialist space and delivers a dramatically enhanced customer experience that takes nothing away from our broker partners.
“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.
“I firmly believe that we have been successful in achieving both these objectives, and that our brokers will benefit from an additional point of difference when future clients are looking for a funder with an active desire to support them over the long term.”
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