Shawbrook Bank has launched a new buy-to-let portal, MyShawbrook Buy-to-Let, to its full panel of broker partners.
The mortgage lender claims that the technology – the first of its kind in the specialist market – will ‘revolutionise’ the mortgage journey and drastically improve the experience for brokers and buy-to-let landlords.
Offering instant indicative mortgage offers, including automatic property valuations (AVMs) where applicable, the new digital solution aims to enable Shawbrook to provide quicker, more consistent and more reliable credit decisions to customers, based on actual valuation data and sophisticated insights via API technology.
The portal further streamlines the application process by integrating with third parties such as Companies House and Hometrack, reducing the need for unnecessary documents and data input.
Phil Gray, managing director at Watts Commercial, said: “As you would expect from Shawbrook Bank, MyShawbrook Buy-to-Let is a really user-friendly system, which is straightforward and easy to use. It’s quick, uncomplicated and really adds value to the process for both broker and Shawbrook.
“I would honestly say it’s the best platform in the market and our favourite one to use.”
Ahead of the launch, Shawbrook worked closely with key strategic partners to pilot the technology and understand the strengths for both its brokers and underwriters. During this period Shawbrook has seen some cases move to formal mortgage offer in just 24 hours and complete in as little as seven working days.
David Tonks, director, Advocate Finance, commented: “The new MyShawbrook Buy-to-Let portal is a huge upgrade for Shawbrook Bank. Our advisers have found it easy to use and it is the only system in the market that we are aware of that integrates AVMs into the AIP process. One of our deals went to mortgage offer with an AVM in 72 hours.”
This drive to improve service through digital transformation comes as Shawbrook also grows its Underwriting and Support teams, recruiting 11 new team members over the past six weeks.
Claire Rankin, director of strategy and digital transformation at Shawbrook Bank, said: “We’re proud to unveil our ground-breaking new portal to the wider market, following a successful pilot programme. This is a key milestone in our digital journey, aimed to transform the mortgage process for both brokers and customers.
“We want to provide an easy and frictionless journey and to achieve this, we need to strike the perfect balance of advanced technology and expert people. These are both areas we have made significant investment in over recent months and we’re excited for our brokers to reap the benefits.
“MyShawbrook Buy-to-Let aims to support all types of cases, from single dwelling applications, right through to the more complex, large portfolio cases – we look forward to providing a more efficient process to the Buy-to-Let market.”