Shawbrook Commercial has seen its SLA for application decisions drop from 48 hours to 4 hours following the launch of its digital application service – “E-AIP”.
The service is available across the residential investment suite with over 50% of applications across the range arriving via E-AIP. To date, of those brokers who have used E-AIP over 25% have received a hard credit backed IMO online in under 15 minutes, with the remainder being referred and a decision received within 4 hours.
Karen Bennett, sales and marketing director of commercial mortgages at Shawbrook, said: “We are thrilled that the new E-AIP function has been well-received by our brokers.
“The core aim of this upgrade is, quite simply, to provide a smarter and simpler online process for our Broker Partners. Considering that all of our business is broker-driven, the Shawbrook teams are pleased to hear that E-AIP is having a beneficial impact on our business partners’ ability to service their Residential Investment clients.
“Nonetheless, we are keen to stress that our expert teams remain at the end of the phone to support brokers where appropriate. Shawbrook prides itself on the personal relationships we have nurtured over a number of years, and our technological improvements are intended to complement rather than supplant this.”
Phil Jay, director at Shawbrook strategic broker partner Complete FS, added: “I really like this new measure by Shawbrook Bank; to get an Indicative Mortgage Offer out in 15 minutes is fantastic, and proof of their ongoing commitment to streamlining processes for the benefit of brokers like me.”