Specialist financial services company Shawbrook Bank has added its transition products and added specific transition tools to its digital platform, MyShawbrook.
Adding MyShawbrook bridging will “streamline the entire bridging application process,” according to the lender.
Brokers will be able to access instant in-app valuation and guaranteed credit terms. They can also appoint lawyers during the agreement in principle phase.
The portal has a maximum loan calculator so brokers can better understand how much Shawbrook can lend to clients, 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 enter additional data and documentation.
Shawbrook’s bridging products will also be available, with rates starting at 0.4% per month with no prepayment charges. It will offer up to 85% loan to value for home improvement loans.
The transition’s addition to its digital portal comes after the launch of buy-to-let portal MyShawbrook last year.
Claire Rankin, Director of Strategy and Digital Transformation at Shawbrook Bank (Photo)commented, “This development is another way to show the investment Shawbrook is making in technology and our goal to make the bidding process as smooth and simple as possible for customers and broker partners.”
She added that the bank was committed to improving its technology to “make a real difference for our customers” as well as “applying our market expertise to complex cases”.
Rankin said: “We have shown over the past year the difference technology can make in the mortgage market with MyShawbrook buy-to-let, it has enabled us to provide a frictionless journey for customers in a way that suits them.
“Clients no longer have to expect to wait weeks for an offer to arrive and get lost in numerous forms and documents. Making the process digital from the start is just one of the ways Shawbrook is bringing the market in. mortgage in modern times.