Shawbrook's Commercial Mortgages team enjoys record-breaking quarter
20 October 2016
The specialist lender posts record numbers despite challenging market conditions…
The numerous challenges faced by the industry throughout 2016 have not slowed the progress of the Commercial Mortgages team at Shawbrook; the lender has announced that the third quarter of 2016 was its most successful to date in terms of completions. September 2016 was also its second most successful month in terms of originations.
This follows a program of extensive investment into the team structure, processes, and technology platforms – all designed to make the transaction of business more efficient. In particular, the success of “E-AIP”, the popular digital application service launched in April, has since been upgraded and expanded to the benefit of the Bank’s network of Broker Partners. In Q3, 39% of applications via E-AIP resulted in brokers receiving an instant Indicative Mortgage Offer (IMO) for their clients.
With several new recruits across the underwriting function to boost resource, Shawbrook has reaffirmed its appetite to lend in what remains a challenging marketplace, maintaining its high standards of service across the product offering.
Emma Cox, Sales Director, Shawbrook Commercial Mortgages comments:
“The investment we have made into our teams and technology is part of an on-going strategy to solidify the bedrock from which we deliver what is a fundamentally sustainable model focused on good outcomes for borrowers.
In spite of a challenging year with regard to the new tax regime, the complexities of Brexit and the PRA consultation, our strong appetite to lend remains in comparison to some who have pulled back in several key markets.
The changes we make come about as a result of direct feedback from our Broker Partners and we make a point of considering any and all suggestions. Senior management is committed to this philosophy and we are confident that our brokers will continue to see the benefits of a long term, two way relationship.”
David Tonks, Director of Shawbrook Strategic Partner Advocate Finance added:
“2016 has presented some unpredictable challenges for our industry. Shawbrook Bank is one lender who faces these challenges head on, maintaining their transparency and applying their expertise wisely.
“I deal regularly with the Commercial Mortgages team and have been impressed by their ongoing commitment to both broker and borrower. It is not surprising that they continue to win accolades for their performance, not to mention continually achieving new lending milestones such as their most recent record breaking quarter.”
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