Shawbrook’s “E-AIP” digital application process sees continued demand from brokers

20 May 2016

E-AIP service for residential investment goes from strength to strength

Shawbrook is thrilled to report that, after the launch of its new online application process for residential loans a month ago, the system is performing as designed with considerable efficiency benefits for brokers.

With reduced duplication and in-built pre-population functionality, E-AIP is designed to act like a digital underwriter, providing a firm lending decision to brokers’ clients using the data it receives. To date, 89% of all applications have received an Indicative Mortgage Offer (IMO) either within 15 minutes, or within 4 hours for referrals.

For those cases which are referred, the Bank is able to inform the broker swiftly as to the reasons why. Common issues include the security undergoing recent unspecified refurbishment, or there being missed payments on a client’s credit history. These referred cases are looked at by a specialist Shawbrook Lending Manager within the new timeframe – a significant step up from the historic SLA of 72 hours.

Comparing the initial week of launch and the week ending 13th May, the percentage of applications resulting in an IMO being received in 15 minutes or less has more than doubled.

Karen Bennett, Sales & Marketing Director of Commercial Mortgages at Shawbrook added:

“The E-AIP system was designed to provide increased convenience and speed during the application process for Broker Partners. We’re thrilled to see that the initial enthusiasm from brokers has been maintained since launch, with delivery statistics indicating that the upgrade is performing and having a beneficial impact on their business.

“Ultimately, we all want the same thing – smooth case progression for the benefit of the customer. With this resource becoming ever more popular and efficient, our Broker Partners will be the beneficiaries moving forward as we seek to boost the volume of applications that ‘IMO’ within 15 minutes.”