Shawbrook Bank Brings Digital Buy-to-Let Portal to Market
Shawbrook Bank has today launched an innovative new Buy-to-Let portal, MyShawbrook Buy-to-Let, to its full panel of broker partners. The technology – the first of its kind in the specialist market – will revolutionise the Buy-to-Let mortgage journey and drastically improve the experience for brokers and customers.
Offering instant indicative mortgage offers, including automatic property valuations (AVMs) where applicable, the new digital solution allows 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.
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.
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. By simultaneously investing in both its technology and people, Shawbrook has improved the level of service and support for brokers and customers, with further improvements expected over the coming weeks and months.
Claire Rankin, Director of Strategy and Digital Transformation at Shawbrook Bank, comments: “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.
Phil Gray, managing director at Watts Commercial comments: “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.”