Case Study: Simple Residential Investment
25 May 2016
Completed in just 12 days on Shawbrook Bank’s RI0.1 product for Simple Residential…
At 75% LTV and with a gross loan value of £82,500, this case features an existing Shawbrook customer who wished to refinance from a short term loan to a term loan with the Bank. As a repeat customer transaction, there were no arrangement or acceptance fees, something which all Shawbrook existing customers are able to benefit from, in addition to a discount to the rate margin of 0.25%.
The customer, a client of Shawbrook Strategic Broker Partner Vantage Finance was eager to move quickly on this loan and satisfied all requirements around their mortgage payments, ID and portfolio schedule with a minimum of fuss. The Shawbrook lending teams were able to fast track the application, resulting in an exceptionally quick completion within just 12 days.
This is an example of how Shawbrook Lending Managers excel at processing cases rapidly when all documentation is provided as requested. Vantage Finance did an excellent job of communicating with their client clearly and promptly, providing the Shawbrook teams with everything they needed within time. Shawbrook’s legal partners at Wilson McKendrick also worked proactively to satisfy the legal conditions, fundamentally important when bearing in mind the completion timescale.
The Shawbrook teams completed their “speak with” shortly after. By talking to Vantage’s client directly, the Bank provided important clarity around their processes as well as another layer of protection. Completion occurred on the same day, just 12 business days after the initial application.
Laura Westgarth, Underwriting Manager at Shawbrook’s Strategic Broker Partner Vantage Finance, added:
“This client of ours has a consistent track record in property investment and, having used Shawbrook previously, was more than happy to refinance to a term loan.
“The speed at which this loan completed was of immediate importance to the client. Dialogue between the Shawbrook teams, their legal panel and Vantage was always positive and the expertise brought to bear by the Bank was vital to a successful end result.”
