Shawbrook completes second charge mortgage within 9 working days

By Bridging Loan Directory 26th September 2019

Shawbrook were approached by Broker Partner Brightstar, with an applicant looking to fund home improvements to their residential property. Whilst in the process of building a single storey extension, the client had a shortfall of funds and needed a second charge loan of just under £20,000 as soon as possible to complete the works.

It was clear that the client needed a lender that had a quick application process that lacked any of the additional stress associated with lending. At an LTV of 65%, the case was submitted to Shawbrook and within a matter of hours, it was underwritten and updates were sent over to the broker. Due to Shawbrook’s requirements being very clearly communicated and the broker providing all the necessary documents/information in one go, the case was approved and ready for offer within 48 hours of submission. After the client requested additional time to consider if they wanted to borrow more, they decided to proceed with the original amount and the case completed within 9 working days from initial contact.

Darren Perry, Head of Second Charge Mortgages at Brightstar, comments on the case:

“The application process went very well with Shawbrook providing an offer for my clients in just 9 days from the date I had first made my recommendation. I have been extremely impressed with the service provided on this case and others that have been submitted by my colleagues and will be more than happy to recommend Shawbrook Bank to my clients as a lender that not only offer fantastic products but also provides a service to match.”

Gavin Seaholme, Head of Sales at Shawbrook added:

“This case highlights Shawbrook’s commitment to always improving the service we provide to our brokers and their clients. Although speed was of the essence, both Brightstar and our sales and underwriting team proved their talents and got the client the required funds well within the required time frame.”